US-based healthcare company Collidion has entered a definitive agreement to purchase 80% equity stake in the early stage biotechnology company Plex Pharmaceuticals for an undisclosed amount.

Under the deal, Collidion will deliver management and operational support to boost Plex Pharmaceuticals’ drug discovery programmes, which include treatments for Parkinson’s disease, glioblastoma (GBM) and cataracts.

Plex president and chief scientific officer Dr G. Sridhar Prasad said: “Plex’s drug portfolio is led by a combination treatment approach for glioblastoma, as well as development candidates for Parkinson’s disease and cataracts.

“This transaction further validates and represents a tremendous opportunity for us to advance our programmes into pre-clinical and clinical development, as well as invest in further development of our drug candidates for additional indications.”

"Plex’s drug portfolio is led by a combination treatment approach for glioblastoma, as well as development candidates for Parkinson’s disease and cataracts."

GBM is one of the most serious forms of cancer that often results in a combination of aggressive treatments to target the tumour site.

The biotechnology company has developed a new co-drug molecule, in which two drug molecules are combined in the form of a single conjugate and later released as two single-agents, each targeting the tumour site(s) of the patients.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Used in Plex’s formulation, the first drug molecule has received approval from the US Food and Drug Administration (FDA), and the second molecule is currently undergoing clinical investigation for the treatment of multiple systemic cancers.

In January last year, UK-based company GlobalData issued a report stating that the GBM treatment market is expected to reach $3.3bn by 2024.

Plex’s cataracts programme focuses on developing a new topical drug candidate that would be able to treat and / or delay the progression of cataracts.