First Wave BioPharma Completes Merger Deal With ImmunogenX Adding Phase 3-Ready Candidate For Celiac Disease
Portfolio Pulse from Vandana Singh
First Wave BioPharma Inc (NASDAQ:FWBI) has completed its merger with ImmunogenX, focusing on advancing a gastrointestinal pipeline with a Phase 3-ready candidate for Celiac Disease, latiglutenase. The company plans to license commercial rights in the U.S. and Canada and seek financing for development. The acquisition adds a significant asset to First Wave BioPharma's portfolio in a market with no approved pharmacologic treatment.
March 14, 2024 | 10:00 am
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First Wave BioPharma's merger with ImmunogenX adds a Phase 3-ready candidate for Celiac Disease to its portfolio, potentially enhancing its market position in the GI sector.
The merger with ImmunogenX provides FWBI with a significant asset, latiglutenase, which is Phase 3-ready for Celiac Disease, a market with no approved pharmacologic treatments. This strategic move could significantly enhance FWBI's market position and investor interest, especially considering the company's plans to license commercial rights and secure financing for development. The positive impact on FWBI's stock price in the short term is likely due to the potential market opportunities and growth prospects presented by this acquisition.
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