Starpharma secures majority stake in Petalion Therapeutics

Full story: https://grafa.com/en/news/australia/starpharma-secures-majority-stake-in-petalion-therapeutics

Starpharma expanded its ownership in Petalion Therapeutics from 22.5% to 66%.
The transaction includes up to $5 million to fund Petalion’s oncology programme through its next development phase.
Starpharma gains governance control and operational leadership over a fibroblast activation protein drug candidate.

Starpharma (ASX:SPL) increased its equity interest in Petalion Therapeutics to 66%.

The transaction raises Starpharma’s stake from 22.5% to secure majority governance control and operational leadership.

“Petalion is strongly aligned with our strategy to build a focused portfolio of differentiated targeted-oncology therapies,” said Starpharma CEO Cheryl Maley.

Starpharma agreed to contribute up to $5 million, comprising $3 million in cash and the remainder in research and development services.

Medicxi will retain a 30% interest and board representation, and following the announcement, the Starpharma share price was down at $0.62.

The acquisition adds a targeted dendrimer-drug conjugate to Starpharma's clinical portfolio.

Starpharma stated that the deal aligns development priorities with its broader drug delivery strategy.

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The transaction includes up to $5 million to fund Petalion’s oncology programme through its next development phase. Starpharma gains governance control and operational leadership over a fibroblast activation protein drug candidate. Starpharma (ASX:SPL) increased its equity interest in Petalion Therapeutics to 66%. The transaction raises Starpharma’s stake from 22.5% to secure majority governance control and operational leadership. “Petalion is strongly aligned with our strategy to build a focused portfolio of differentiated targeted-oncology therapies,” said Starpharma CEO Cheryl Maley. Starpharma agreed to contribute up to $5 million, comprising $3 million in cash and the remainder in research and development services. Medicxi will retain a 30% interest and board representation, and following the announcement, the Starpharma share price was down at $0.62. The acquisition adds a targeted dendrimer-drug conjugate to Starpharma's clinical portfolio. 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