M&As this week: Ataxion, Kasten, Heat Biologics
Ataxion, a spinout company of biotechnology firm Saniona, is set to merge with Luc Therapeutics.
The merged company will continue to operate as Luc Therapeutics, in which Saniona will hold 7.1% stake and rights to royalties of marked products from the Ataxia programme.
Saniona is based in Denmark, whereas Luc Therapeutics is based in the US.
Kasten has merged with Thru Pharma (doing business as DAKOTA Life Sciences), a company which develops innovative health products such as antifungals and antibiotics using site-specific penetration technologies.
US-based biopharmaceutical company Heat Biologics is set to acquire 80% stake in Pelican Therapeutics.
The purchase consideration includes $0.5m in cash and issuance of 1.3 shares of Heat Biologics’ common stock.
The acquisition is expected to be completed on or before 30 April.
Pelican Therapeutics is an immune-oncology company also based in the US.