Shares of biopharmaceutical company Coeptis Therapeutics (NASDAQ:COEP) are on the up move today after it entered into a binding term sheet for a potential acquisition or licensing of key assets from Deverra Therapeutics.
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The assets under consideration include Deverra’s allogenic stem cell expansion and differentiation platform. Deverra is currently developing programs in relapsed/refractory acute myeloid leukemia (AML), myelodysplastic syndrome (MDS), and respiratory viral infections.
A final move would provide Coeptis the exclusive rights to two investigational new drug applications and two Phase trials for NCT04901416, NCT04900454, and DVX201. Moreover, the company also stands to gain access to a scalable allogeneic cell immunotherapy platform. Further, the Phase 1 trial data in AML is anticipated to be completed in the second half of this year.
The transaction is subject to due diligence, negotiation, and other closing conditions. Today’s price gains come on top of a 10% rise in Coeptis shares over the past five sessions.
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