OPKO Health, Inc. (NYSE:OPK), a multi-national biopharmaceutical and diagnostics company, today reported that Senesco Technologies, Inc. (“Senesco”) (OTCQB: SNTI), completed its acquisition of Fabrus, Inc. (“Fabrus”), an OPKO portfolio company focused on expanding the clinical impact of antibodies by addressing drug targets resistant to traditional antibody discovery methods.
Fabrus has been successful in generating antibodies against difficult, therapeutically important cell surface receptors and ion channels resulting in an internal pipeline that includes next generation antibodies targeting cancer and inflammation. It also has collaborations in place with large pharma and biotech companies to discover antibodies to their targets. Dr. Vaughn V. Smider, founder of Fabrus and faculty member at The Scripps Research Institute in La Jolla, CA, will become acting CEO of Senesco.
In the short term, the business focus of the combined company will be to realize the synergies of the combination, advancing the SNS01-T clinical program and bringing new candidates into clinical development in the next two years.
About Senesco Technologies, Inc.Senesco Technologies is a clinical-stage biotech company specializing in cancer therapeutics. Its proprietary gene regulation technology has demonstrated the ability to kill cancer cells and protect healthy cells from premature death in disease models. The Company is currently in a Phase 1b/2a trial with a product candidate that is designed to treat B-cell cancers, which include multiple myeloma, chronic lymphocytic leukemia, and non-Hodgkin’s B-cell lymphomas. Trial sites include Mayo Clinic and the Fred Hutchinson Cancer Research Center in Seattle. The technology was developed over the last 15 years through the discovery that the genetic pathway for cell growth control is common to both plants and humans. For more information, please visit Senesco.com. About Fabrus Inc. Fabrus was the first occupant in 2007 of Pfizer Inc.’s science incubator in La Jolla, CA and has developed an advanced platform for therapeutic antibody discovery and development. Its discovery system allows high-throughput biologic lead identification directly on the cell surface, enabling drug discovery against difficult transmembrane targets. The company has also developed unique scaffolds for biologic therapeutics including ultralong CDR3 antibodies and the chimerasome nanocage.