CoImmune, Inc. and Formula Pharmaceuticals, Inc. announced Wednesday the merger between the two companies, bringing together two therapeutic immuno-oncology platforms. Upon completion of the merger of Formula Pharmaceuticals into CoImmune, bringing forth access to all of Formula Pharmaceuticals’ tangible and intangible assets, the merged company will continue to focus on running a Phase 2b trial for lead asset, CMN-001, in advanced renal cell carcinoma and a Phase 1 trial for CAR-CIK (cytokine-induced killer cells) in acute lymphoblastic leukemia. This proprietary non-viral, allogeneic CAR-CIK technology platform has the potential to overcome commercial limitations related to existing CAR-T approaches that require autologous blood and viral transfection. The close of the deal will be accompanied by a $6MM investment in the combined entity to fund the CAR-CIK program.
Read the full article: CoImmune Inc., a US-Based Clinical-Stage Biotech, and Formula Pharmaceutical Inc. Agree to Merge in an All-Stock Transaction //
Source: https://www.globenewswire.com/news-release/2020/01/15/1971175/0/en/CoImmune-Inc-a-US-based-clinical-stage-biotech-and-Formula-Pharmaceutical-Inc-agree-to-merge-in-an-all-stock-transaction.html