US-based clinical-stage biotechnology company Serina Therapeutics has entered an agreement to merge with AgeX Therapeutics’ wholly-owned subsidiary.
Serina’s stockholders will receive AgeX common stock shares and the combined company will continue under the name Serina Therapeutics.
It will focus on advancing pre-clinical studies of Serina’s lead drug candidate SER-227 (POZ-buprenorphine) for treating advanced Parkinson’s disease.
The aim is to submit an investigational new drug (IND) application to the US Food and Drug Administration to commence a Phase I trial in the fourth quarter of 2024.
The combined company will also expand Serina’s lipid nanoparticles and antibody drug conjugates by collaborating with other partners.
Serina Therapeutics board chair and co-founder Milton Harris stated: “The merger with AgeX positions Serina to advance our CNS pipeline assets and expand our platform partnering opportunities.
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“We believe it represents the best path forward for Serina in accessing transformative capital to advance our platform technology.
“As a board director of the combined company, I look forward to collaborating with our new partners AgeX and Juvenescence, as we continue the work of translating our science into innovative therapeutics.”
The merger will conclude in the first quarter of 2024.
Pre-merger AgeX stockholders will own 25% of the new combined entity while pre-merger Serina stockholders will own 75%.
Serina is planning to submit IND applications for SER-227 for post-operative pain indications and for SER-228 (POZ-cannabidiol) for refractory epilepsy indications.