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Article: OrthoLogic Expanding Peptide Platform Via Chrysalis Buyout.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Growing its Chrysalin product platform, OrthoLogic Corp. signed a definitive agreement to acquire all of Chrysalis BioTechnology Inc.'s assets and intellectual property for up to $34.5 million in cash and stock.
Upon closing of the agreement, expected in the third quarter, OrthoLogic gains exclusive rights to technology and IP in developing synthetic peptide-based therapeutics for a variety of indications.
All of OrthoLogic's current products are based on the Chrysalin synthetic peptide - TP508 - which it licensed from Chrysalis in 1998. However, the acquisition will broaden OrthoLogic's Chrysalin platform beyond its initial focus. ...