Delenex: Fragments, Take Two

Investors in Delenex Therapeutics AG are looking for a second ROI from a technology platform that's already provided them with one exit after 11 years and $72 million in investment. The company is a spinout from ESBATech AG and thus starting out with a fully developed antibody fragment platform technology and a lead candidate that's already shown proof of concept, albeit in a different indication.

ESBATech was founded in 1998 and was sold along with its ophthalmic assets to Alcon Inc. in 2009 for $150 million in cash and up to $439 million in undisclosed milestones (see Ebb & Flow, Sept. 21, 2009)...