X4 Pharmaceuticals has signed a definitive agreement to merge with a wholly owned subsidiary of Arsanis in an all-stock transaction.
The merger is set to result in a combined company operating under the name of X4 Pharmaceuticals.
The new biopharmaceutical company will have its headquarters at X4 Pharmaceuticals’ existing facility in Cambridge, Massachusetts.
It will focus on development and commercialisation of X4P-001, the lead product candidate of X4 Pharmaceuticals and the advancement of the company’s pipeline of treatments for rare diseases and cancers.
X4 Pharmaceuticals president and CEO Dr Paula Ragan said: “Our lead product candidate, X4P-001, is expected to begin a Phase III trial in WHIM syndrome in the first half of 2019.
“WHIM syndrome is a serious, genetic primary immunodeficiency disease that is caused by a mutation in the CXCR4 receptor, the precise pathway targeted by X4P-001. X4P-001 has been shown in a Phase II clinical trial to increase neutrophils and lymphocytes in the blood and decrease wart lesions, a hallmark symptom of WHIM syndrome.
“The merger with Arsanis would provide X4 with additional financial resources, bolster our management, clinical development and regulatory teams and enhance our research and development capabilities in Europe through Arsanis’ Vienna facility.”
Existing stockholders of X4 Pharmaceuticals and Arsanis are expected to own around 70% and 30% of the combined company respectively.
The merger is currently expected to close in the first quarter of next year, subject to approval from stockholders and the satisfaction of other customary conditions.