Graybug Entered into Definitive Merger Agreement with CalciMedica to Advance Auxora for Inflammatory Diseases
Shots:
- The combined company will receive ~$35M in cash & cash equivalents incl. private placement financing with an expected cash runway in H2’24 & the merger is expected to close in Q1’23. The agreement focused on CalciMedica’s Auxora for inflammatory diseases i.e., AP, AAP, AKI & AHRF
- Graybug equity holders are expected to own ~29% & CalciMedica equity holders will hold ~71% of the combined company. The companies will advance the development of Auxora & the results from the P-IIb (CARPO) trial in AP patients with SIRS are expected in H2’23 & P-I/II (CRSPA) trial in pediatric patients with AAP in H1’23
- Four completed efficacy trials on Auxora showed positive & consistent clinical results along with a favorable safety profile
Ref: Globenewswire | Image: CalciMedica
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Neha is a Senior Editor 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. She can be contacted at connect@pharmashots.com.
