Coeptis Therapeutics to acquire cell therapies from Deverra Therapeutics
The company's shares rose 10% after it announced plans to acquire a cell therapy in phase one clinical trials.
Coeptis Therapeutics Holdings Inc., a pharmaceutical company based in Wexford, saw its shares increase 10% on Tuesday after it announced that it planned to purchase a cell treatment currently in phase one clinical trial.
The financial terms of the agreement between Coeptis and Deverra Therapeutics Inc., which is binding until August 31, were not disclosed. Coeptis will acquire two new drug applications for DVX201 and two phase 1 clinical trials. DVX201 is a natural killer cells therapy that has been studied to treat hematological cancers and viral infections. The company would also acquire a platform for cellular immunotherapy.
Coeptis shares jumped 15 cents, to $1.55 per share. This represents a 10.7% increase on Nasdaq.
After the deal is completed, Dr. Colleen Deaney will join Coeptis in the role of chief scientific and medical officers. She is currently Deverra Therapeutics founder, chief scientist and EVP for research and development.
In a press release, Coeptis CEO David Mehalick said that the addition of these clinical- and preclinical-stage immune effector cells would diversify Coeptis' R&D capabilities. It would also bring a clinical pipeline containing multiple novel approaches for combination cellular immunotherapy. "Importantly the significant capabilities of the allogeneic platform for cell therapy would open up new pathways for Coeptis in considering expanding its cell-based treatments."
Coeptis, a cell-therapy company that develops cancer treatments with the University of Pittsburgh as a licensee and with VyGen-Bio researchers and Karolinska Institutet.