Anchiano Therapeutics jumps after Chemomab merger
The merger will create a company focused on advancing Chemomab’s lead product, CM-101, for the treatment of fibrosis-related diseases.
Anchiano chairman Stan Polovets said, “Following a comprehensive review of strategic alternatives, Anchiano’s Board of Directors has concluded that the proposed transaction with Chemomab is in the best interest of our shareholders. Chemomab’s CM-101 has demonstrated positive clinical results, with a novel mechanism of action that has potential to become an important option for patients with debilitating fibrotic diseases. We intend to hold a special meeting of Anchiano’s shareholders in the first quarter of 2021 to vote on this merger.”
Chemomab cofounder and CEO Dr. Adi Mor said, “Our lead compound, CM-101, has shown very positive safety and anti-fibrotic biomarker activity in a Phase Ib study, and with the antibody advancing into Phase II trials in two orphan fibrotic indications, we believe it is the right time in our lifecycle to move into the public equity markets. We are excited about the next chapter of growth for Chemomab, and the ability to bring the important effects of CM-101 through clinical development and to patients.”
Upon closing of the transaction, the combined company will assume the name Chemomab Therapeutics, Ltd and will be led by Chemomab’s management team, headed by Dr. Mor.
Published by Globes, Israel business news – en.globes.co.il – on December 15, 2020