Generex Biotechnology (OTCQB:GNBT +10.6%) inks a binding letter of intent to acquire 51% of privately held ALTuCELL for an undisclosed sum of cash and stock.
The New York-based biotech is developing cell, molecular and regenerative therapies for diabetes and other autoimmune and neurodegenerative disorders based on its patented microencapsulation technology that, it says, enables a transplantable cell-based therapy that avoids detection and rejection by the immune system.
Lead candidate appears to be Altsulin for the potential treatment of a rare type of dwarfism called Laron syndrome, caused by insensitivity to growth hormone.
Date: September 16, 2019
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Source: InvestorsHub