KSB acquiring Avicenna
KS Biomedix (LSE:KSB) agreed to acquire cancer and contract manufacturing play Avicenna (Edmonton, Alberta) for 41.9 million ($59 million) comprised of 37.2 million in stock valued at 4.30 per share and 4.65 million in cash. Avicenna has two drug delivery technologies for delivery of cytotoxic agents to tumor cells: TransMID and AviMAB. KSB said both technologies can be used to deliver its monoclonal antibodies. The lead TransMID product, TransMID-107R, is ready to begin Phase II trials to treat recurrent inoperable glioma, and three other TransMIDs are in Phase I studies for other cancers.
Separately, KSB acquired an exclusive license to three human MAbs with potential in cancer from Human Antibody Sciences, a subsidiary of Intracel (Rockville, Md.). HumaSpect is approved for colorectal imaging in Europe; HumaRad-HN is a radiolabeled MAb for treatment of head and neck cancer that has finished Phase I trials; and HumaRad-OV is a radiolabeled MAb in Phase I trials for ovarian cancer following surgery and chemotherapy. ...