ARTICLE | Company News

Adamis, Colby, La Jolla Pharmaceutical deal

March 8, 2010 8:00 AM UTC

Adamis received exclusive rights to Colby's CPC-300, a small molecule signal transduction inhibitor in preclinical testing to treat prostate cancer. Colby received 1 million shares of Adamis, which are valued at $410,000 based on Adamis' close of $0.41 on February 25, the day the deal closed. Adamis will also acquire exclusive rights to Colby's preclinical prostate cancer candidates CPC-100 and CPC-200 for 7.5 million Adamis shares which is contingent upon Adamis securing at least a $2 million equity investment. CPC-100 is a small molecule anti-androgenic and anti-inflammatory signal transduction inhibitor and CPC-200 is a small molecule oxidase enzyme inhibitor. ...