Scinai Immunotherapeutics (SCNI) said Thursday it signed a binding option agreement to acquire Italian biotech firm Pincell by the end of the year.
Pincell's PC111 product candidate is under development for the treatment of Pemphigus, Steven Johnson's Syndrome, and Toxic Epidermal Necrolysis. Scinai said PC111 has the potential for accelerated approval given the severity of these diseases and its non-immunosuppressive mechanism of action.
To facilitate a grant application, Pincell exclusively licensed PC111 to Scinai's wholly owned Polish subsidiary, which submitted an application under the European Funds for a Modern Economy program in Poland. Scinai is seeking 12 million euros ($12.9 million) in non-dilutive funding for PC111's development.
If Scinai exercises the option to acquire Pincell, the Italian company's shareholders will be eligible for milestone payments and royalties on future net sales of PC111 in the low single digits.
The financial terms of the option agreement were not disclosed.
Shares of Scinai Immunotherapeutics were down nearly 14% in recent trading.
Price: 2.90, Change: -0.46, Percent Change: -13.69
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。