Curacyte merges with IBFB, raises EUR16.5M

Curacyte (Munich, Germany) merged with IBFB Pharma (Leipzig, Germany). The newco will be headquartered in Leipzig and have 50 employees. BioConnect advised Curacyte, while JSB Partners advised IBFB.

Curacyte's lead compound is pyridoxalated hemoglobin polyoxyethylene (PHP), a nitric oxide scavenger that is in Phase III testing for septic shock and Phase I testing in combination with interleukin-2 (IL-2) to treat renal cell carcinoma and metastatic melanoma. The company also has preclinical programs in cancer and cardiovascular indications. IBFB has preclinical programs in inflammation and cancer. IBFB plans to begin clinical development with several programs in 2006. ...