Fabrus has been successful in generating 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.
It also has collaborations in place with large pharma and biotech companies to discover antibodies to their targets. Fabrus founder of Dr Vaughn Smider and faculty member at The Scripps Research Institute in La Jolla, will become acting CEO of Senesco.
Senesco president Dr Leslie J Browne noted that in addition to the company’s 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.
"I am also 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 our teams, advancing the SNS01-T clinical program and bringing new candidates into clinical development in the next two years.
Under the terms of the agreement, Fabrus merged with a wholly-owned subsidiary of Senesco, and Senesco issued to the Fabrus shareholders an aggregate of: 6,905,201 shares of common stock, 160,202 options and 3,578,481 warrants with terms similar to the warrants issued by Senesco in December 2013 that remained outstanding at the time of the transaction.