Kalytera Therapeutics has completed the acquisition of Israel-based Talent Biotech in a deal worth more than $10 million, the company announced in a press release. To date, the Massachusetts-based firm has made $10 million in cash payments and issued 17,301,208 common shares to Talent, and will pay up to $20 million in aggregate future contingent payments and other securities considerations.
Talent, which is privately held, studies the use of CBD to prevent and treat Graft versus Host Disease – which sometimes arises following hematopoietic stem cell transplantation. The procedure is often performed for diseases of the blood and bone marrow, including sickle cell anemia, leukemia, and Hodgkin and Non-Hodgkin lymphoma. Talent has so far completed two clinical trials at the Rabin Medical Center in Petah Tikva, according to a Times of Israel report.
Dr. Andrew Salzman, Kalytera CEO, said the company is “incredibly fortunate” to continue Talent’s “groundbreaking work.”
“There are currently few options to prevent or treat persons with GvHD, a large and critically underserved market. The results of Talent’s Phase 2 clinical studies are unprecedented, and mark a major milestone in the potential prevention and treatment of this severe and life-threatening disease,” he said in a statement. “We are encouraged by the data and seek to rapidly advance the GvHD program into FDA Phase 2b clinical studies.”
The deal has been conditionally approved by the TSX Venture Exchange but is subject to final approval.