Vi­cal finds way out of R&D woes via re­verse merg­er with der­ma­tol­ogy biotech Brick­ell

Months af­ter bury­ing its third and fi­nal clin­i­cal pro­gram, Vi­cal has turned to a re­verse merg­er with Brick­ell Biotech to put an end to its mis­ery.

The new com­pa­ny — in which Vi­cal in­vestors will re­tain a 40% own­er­ship — will op­er­ate un­der Brick­ell’s name and agen­da, fo­cus­ing on se­ri­ous der­ma­to­log­ic dis­or­ders like hy­per­hidro­sis, cu­ta­neous T-cell lym­phoma and pso­ri­a­sis. Fol­low­ing the all-stock trans­ac­tion, No­vaQue­st Cap­i­tal Man­age­ment has pledged $25 mil­lion to fund near-term R&D, adding to the $35 mil­lion in cash re­serve that Vi­cal brings.

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