Starpharma Lifts Stake in Petalion Therapeutics to 66%, Gains Majority Control of Oncology Program

MT Newswires Live10-20 13:54

Starpharma Holdings (ASX:SPL) increased its equity interest in Petalion Therapeutics to 66% from 22.5%, securing a majority ownership of a fibroblast activation protein (FAP)-targeted oncology program, according to a Tuesday Australian bourse filing.

The company said the transaction adds a FAP-targeted dendrimer-drug conjugate to its focused oncology portfolio.

The next phase will focus on generating the data needed to select a lead candidate and define the optimal development and partnering pathway, Starpharma added.

Starpharma will contribute up to AU$5 million to Petalion, comprising AU$3 million in cash and the balance in research and development services, to advance the program through this phase, it said.

Medicxi will retain a 30% interest, board representation and an active strategic role, the filing said.

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