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.