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Dec. 30, 2013, 10:26 AM
- 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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The primary business of the Company is to utilize our patented and patent-pending technology related to antibody genes, antibody discovery technology, modified cow antibodies, and antibody drug candidates, and certain genes, primarily eukaryotic translation initiation Factor 5A, or Factor 5A,... More
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