Senesco signs LoI to merge with Fabrus


Senesco Technologies (SNTI +5.1%) agrees to terms and executes a non-binding LoI to merge with privately-held biotech firm Fabrus on an approximately 50-50 basis. A definitive agreement is expected in "early 2014."

Fabrus aims to expand the impact of antibodies aimed at drug targets that are resistant to traditional antibody discovery methods. It has 2 collaborations with "large pharma and biotech companies" and an internal pipeline of antibodies targeting renal cell carcinoma and inflammation.

CEO Leslie Browne: "Fabrus antibodies could complement our eIF5A gene regulatory platform, which has been shown to kill cancer cells, by directing nanoparticle-based therapeutics to the cells of interest."

Making things more interesting: Phillip Frost's Frost Gamma Investments Trust, which recently made an investment in Senesco Technologies as detailed by SA Pro's John H. Ford, made an investment in Fabrus back in 2010.

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Comments (3)
  • Matija Snuderl
    , contributor
    Comments (335) | Send Message
     
    Philip Frost's involvement in Senesco is a plus to me. Both companies can have interesting synnergies and create a bigger company for the purpose of uplisting.
    30 Dec 2013, 10:29 AM Reply Like
  • russleehowe
    , contributor
    Comments (80) | Send Message
     
    Bought SNTI couple of months ago at $3. Looking good. Biotech is the new gold rush! Bought more today.
    30 Dec 2013, 11:02 AM Reply Like
  • russleehowe
    , contributor
    Comments (80) | Send Message
     
    Check out CYNAF. Up nearly 50% in 2 days. Happy New Year!
    30 Dec 2013, 11:05 AM Reply Like
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