Shots:

• Under the agreement- Chondrial will become a wholly-owned subsidiary of Zafgen and holds ~60% stocks of the combined company while Zafgen will own the remaining stocks. Zafgen will be renamed as Larimar Therapeutics with HQ in Bala Cynwyd- Pennsylvania
• The transaction is expected to be close in H1’20. Following the completion- Chondrial will advance its lead asset- CTI-1601- currently being evaluated in P-I study for FA and has received FDA’s RPD & FT designation with its anticipated results in H2’20
• The merger will allow Chondrial to expand its efforts to develop additional therapies for rare diseases. Additionally- Chondrial plans to utilize its protein replacement therapy platform to design other therapies targeting additional orphan diseases exemplified by deficiencies in intracellular bioactive compounds

Click here ­to­ read full press release/ article | Ref: Zafgen | Image: Chondrial Therapeutics