Senesco completes acquisition of Fabrus
Senesco Technologies, a clinical stage biotech company specializing in cancer therapeutics, has completed its acquisition of Fabrus, a biotechnology company focused on expanding the clinical impact of antibodies by addressing drug targets resistant to traditional antibody discovery methods.
Fabrus provides antibodies against very difficult, therapeutically important cell surface receptors and ion channels, resulting in an internal pipeline that includes next generation antibodies targeting cancer and inflammation. Fabrus 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, Calif., will become acting CEO of Senesco.
“In addition to our lead candidate currently in phase Ib/IIa development, whose next step could be a phase II clinical study, the combined organization has complementary technology platforms with the potential to bring multiple new candidates to the IND stage over the next two years,” said Leslie J. Browne, Ph.D., president of Senesco. "I also am pleased that Dr. Smider will be able to take over as acting CEO, while I step down to manage ongoing health issues."
The business focus in the short term will be to realize the synergies of the combination by integrating its teams, advancing the SNS01-T clinical program and bringing new candidates into clinical development in the next two years.
The board of directors of the combined company is chaired by Dr. Harlan Waksal, founder of ImClone Systems and also includes Dr. Philip Frost, chairman and CEO of Opko Health and chairman of Teva Pharmaceuticals; Christopher Forbes, vice chair, Forbes Media; David Rector, principal, David Stephen Group; John N. Braca, former, venture and operational investor, SR One and EuclidSR Partners; Dr. Vaughn V. Smider, chief scientific officer and acting CEO, Senesco; and Steven D. Rubin, executive vice president at Opko Health.