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Chiesi Farmaceutici S.p.A.
Drug Names(s): CTI-01
Description: CTI-01 is an orally available compound that has anti-inflammatory characteristics in addition to antioxidant activity.
Preclinical studies of CTI-01 have shown that the drug inhibits the systemic release of a number of mediators of the inflammatory response, including TNFa and HMGB1. Research shows that CTI-01 inhibits the activation of inflammatory signaling pathways, the activation of a number of pro-inflammatory genes and the release of the late-acting cytokine HMGB1, both in vivo and in vitro.
Cornerstone and Chiesi
In September 2013, Chiesi and Cornerstone announced that the special committee of the Cornerstone Board of Directors, as well as the boards of directors of both companies, have approved a definitive merger agreement under which Chiesi will acquire all of the outstanding common shares of Cornerstone for $9.50 per share in cash. Chiesi currently owns 58% of Cornerstone's outstanding common shares.
In February 2014, Cornerstone Therapeutics announced that its stockholders have approved, at a special stockholder meeting, the previously announced merger agreement, under which Chiesi Farmaceutici S.p.A. (Chiesi) will acquire all of the outstanding common shares of Cornerstone for $9.50 per share in cash.
Scrip Venture Funding Deals
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