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Cortexyme Entered into an Agreement to Acquire Novosteo for the Treatment of Rare Skeletal Diseases

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Cortexyme Entered into an Agreement to Acquire Novosteo for the Treatment of Rare Skeletal Diseases

Cortexyme Entered into an Agreement to Acquire Novosteo for the Treatment of Rare Skeletal Diseases

Shots:

  • Following the completion of the acquisition, Novosteo stockholders will own ~15.5% of the combined company & the transaction is expected to close in the next 30 days. The companies will operate under a new name Quince Therapeutics & trade under the ticker symbol “QNCX” in the coming mos.
  • The acquisition expands Cortexyme’s pipeline with the addition of NOV004 for rare skeletal diseases, bone cancer & injury including osteogenesis imperfecta. The P-I study of NOV004 is expected to initiate in 2023
  • NOV004 can increase bone production & stability resulting in mobility gain in a distance & speed as early as 12 days in animal studies. The P-II trial of COR388 is expected to be initiated in H2’22 for malignant disorders

Ref: Cortexyme | Image: Cortexyme

Click here to­ read the full press release 

Neha

Neha Madan is a content writer at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots.

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