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Soligenix, Inc. (SNGX) Acquires SGX94 Drug Technology

|Includes: Soligenix, Inc. (SNGX)

Soligenix has acquired SGX94, a drug technology representing a unique approach to modulation of the innate immune system. Per the transaction, the company has also acquired all rights, including composition of matter patents, preclinical, and phase 1 clinical study datasets for SGX94.

SGX94 is an innate defense regulator (IDR) designed to regulate the body's innate immune system to reduce inflammation, eliminate infection, and enhance tissue healing. The drug is applicable to a wide range of disease models, including life-threatening bacterial infections and severe side-effects of chemo- and/or radiation-therapy.

SGX94 previously demonstrated safety in a phase 1 clinical study in healthy human volunteers and is the subject of an open Investigational New Drug (NYSE:IND) application, which has been cleared by the U.S. Food and Drug Administration. The drug is positioned to enter phase 2 clinical testing in humans.

Moving forward, Soligenix said that it intends to continue development of SGX94 in cancer supportive care and infectious disease applications.

"We are very excited by the acquisition of this cutting edge science which represents a new paradigm for the treatment of tissue injury and infection," Christopher J Schaber, PhD, president and CEO of Soligenix stated in the press release. "With SGX94 we will be able to leverage our experience in clinical development of cancer supportive care and biodefense products. We also anticipate the potential for a number of grant funding opportunities for SGX94 across both segments of our business."

SGX94 is currently being developed pursuant to discoveries made by Professors B. Brett Finlay and Robert Hancock of the University of British Columbia, Canada; approximately $40 million have been put toward the drug's development to date.

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