Protocols: Leap reverse merges with a failing Macrocure; Ferring bags rights to PhIII sciatica drug
Leap Therapeutics is reverse merging its way onto the stock exchange. Leap signed a deal with Macrocure to merge operations, with HealthCare Ventures investing an additional $10 million into their immune-oncology research work. Macrocure, a regenerative med company which has been struggling in the wake of two big Phase III failures, gets 31% of the new company.
Switzerland’s Ferring Pharmaceuticals inked a deal with Seikagaku Corporation granting Ferring the exclusive worldwide rights (excluding Japan) to SI-6603 (condoliase), a chemonucleolytic product in Phase III development for the treatment of radicular leg pain (conditions that include sciatica) due to lumbar disc herniation.
India’s Mitra Biotech has raised $27.4 million from a group of investors which includes Boston-based RA Capital. Mitra has been developing new tech to predict a patient’s response to personalized cancer drugs.