Cellceutix Buys Mid-Stage Antibiotic Brilacidin On The Cheap
This article was originally published in The Pink Sheet Daily
With brilacidin developer PolyMedix having filed for bankruptcy, Cellceutix will acquire the company’s assets for $2.1 million in cash and 1.4 million shares of stock.
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Company plans to file an NDA for the antibiotic in September, built partly on clinical work done by the drug’s previous owner, Pfizer. Given hospitals’ emphasis on cost, Durata’s marketing plan will highlight the drug’s two-dose regimen, which could help move treatment to the ambulatory-care setting.
These days, most start-up companies intent on developing a novel treatment for nearly any disease make a point of talking about their drug candidate’s presumed mechanism of action. It is pretty much de rigueur that a would-be drugmaker will discuss molecular something: if not the candidate itself, then certainly its target. But Cellceutix Corp. is not a typical start-up. Founded in June 2007, it became a publicly traded company through a reverse merger in December of that year. While the company appreciates the buzz that its anti-cancer candidate is generating, it is being a bit more tight-lipped about Prurisol, its novel drug candidate for psoriasis.
Novel antibiotic brilacidin meets endpoints in Phase IIa study of 215 patients with acute bacterial skin and skin structure infection. Design went further than requirements in FDA guidance for ABSSSI.