NeuBase Therapeutics, Inc. (Nasdaq: NBSE) (“NeuBase” or the “Company”), a biotechnology company accelerating the genetic revolution using a new class of synthetic medicines to drug the genome, today announced execution of a binding agreement to acquire infrastructure, programs and intellectual property for several peptide-nucleic acid (PNA) scaffolds from Vera Therapeutics, formerly known as TruCode Gene Repair, Inc. The technology has demonstrated the ability to resolve disease in genetic models of several human indications. The acquisition bolsters NeuBase’s capabilities and reinforces the Company’s position as a leader in the field of genetic medicine.
“With this acquisition, we enhance our PATrOL™ platform, furthering our unique ability to directly engage and correct malfunctioning genes with exquisite precision to address the root causes of a wide variety of human diseases,” said Dietrich A. Stephan, Ph.D., Chief Executive Officer of NeuBase. “These assets extend and refine our PATrOL platform’s capabilities and accelerates, through our Company, to bring the rapidly growing genetic medicines industry toward a single high-impact focal point. We are committed to advancing our pipeline and candidates to the clinic and to exploiting the full potential of PNA technology to continue creating value for our shareholders and importantly, for patients.”
Curt Bradshaw, Ph.D., Chief Scientific Officer of NeuBase, added, “By consolidating additional validated technology into our PATrOL platform, we believe NeuBase is positioned to radically transform the landscape of medicine. In vivo activity in a variety of disease indications has been demonstrated with the new scaffolds that we have acquired, and further expands the validated components of our platform to achieve resolution of causality in living systems with target indications such as recently presented in myotonic dystrophy, type 1. In addition to our intellectual property, we believe our in-house expertise in peptide nucleic acids is second to none.”
The transaction is expected to close in the first calendar quarter of 2021. Financial terms were not disclosed.
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