Daré does a reverse merger with an ailing Cerulean; Pulmocide raises $30.4M for RSV therapy
→ Daré Bioscience is the latest biotech to pull off a reverse merger. The company is taking over Cerulean, leaving it with a majority of the stock and a listing on Nasdaq for its women’s health effort. Cerulean, meanwhile, sold CRLX101 and CRLX301 to a subsidiary of NewLink and laid off 11 staffers, leaving 8 employees. Last summer Cerulean’s lead drug went 0 for 2 in mid-stage trials, blasting any remaining hope of success and forcing the company to lay off half of its staff.
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