Cangene Acquires Twinstrand Therapeutics Inc.
News Jul 08, 2009
Cangene Corporation has announces that it has acquired all issued and outstanding shares of privately held Twinstrand Therapeutics Inc. Cangene has paid $1.5 million to acquire Twinstrand which has products, technologies and financial attributes including those related to tax.
Twinstrand has established a technology that uses modified versions of ricin, a plant-derived cell toxin, as therapeutic prodrugs. Its lead drug, a product known as TST10088, is currently undergoing a Phase I clinical trial. The prodrugs leave healthy cells unaffected while specific chemical activity within targeted diseased cells activates the cell-killing activities of the drug.
As a spin-off from its original focus, Twinstrand has also begun developing anti-ricin, antibody-based therapeutics; Cangene has partnered with Twinstrand on this technology in the past.
The acquisition of Twinstrand includes an obligation that Cangene pay to certain of Twinstrand's former investors a royalty on any commercial sales of antibody products related to TST10088 that may be developed, as well as a royalty on any associated licensing fees.
"This acquisition is in line with our on-going interest in augmenting our commercial pipeline and biodefence products through the acquisition of complementary products or technologies," said Dr. John Langstaff, Cangene's president and CEO.
Schizophrenics' Blood Contains RNA From More MicrobesNews
The blood of schizophrenia patients features genetic material from more types of microorganisms than that of people without the debilitating mental illness, research at Oregon State University has found. What’s not known is whether that’s a cause or effect of the severe, chronic condition that strikes about one person in 100.READ MORE
Faulty Gene Leads to Alcohol-Induced Heart FailureNews
A faulty gene interacts with alcohol to accelerate heart failure in susceptible patients, a study suggests. This dangerous interaction can occur even when only moderate amounts of alcohol have been consumed.READ MORE
Comments | 0 ADD COMMENT
2nd Annual Artificial Intelligence in Drug Development Congress
Sep 20 - Sep 21, 2018