Attempting to bounce back after mid-stage flop, Novus pivots to immunology with CD40L-focused acquisition of Anelixis
Following a mid-stage failure of its acute otitis media candidate back in June that sent its shares deep into penny stock territory, Novus Therapeutics has found what it believes to be a new, exciting path forward in immunology.
The Irvine, CA-based company, originally called Tokai Pharmaceuticals, announced Monday afternoon the acquisition of Anelixis Therapeutics — a biotech that was spun out of the ALS Therapy Development Institute in Boston in 2015 — as well as $108 million in private placement funding led by BVF Partners. Anelixis’ lead program AT-1501, an anti-CD40L antibody, will be central to Novus’ new focus, and the company is bringing along David-Alexandre Gros to steer the ship as new CEO.
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