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Mateon Therapeutics, Inc
Drug Names(s): CA4P, Combretastatin A4 Prodrug (Topical), fosbretabulin
Description: CA4P selectively targets endothelial cells but not smooth muscle cells, and induces regression of unstable, newly formed vessels by disruption of Vascular Endothelial-cadherin (VE-cadherin) signaling. VE-cadherin is a protein found at the junctions of overlapping regions of endothelial cells and plays a key role in many aspects of vascular function including, endothelial cell survival, cell migration, cell proliferation and assembly into vessel-like structures.
Deal Structure: In October 2008, OXiGENE entered into a strategic collaboration with Symphony Capital Partners, L.P. that will provide OXiGENE with up to $40 million to further advance its pipeline of vascular disrupting agent (VDA) drug candidates for cancer and eye disease. Symphony will provide up to $25 million to Symphony ViDA, a newly-created company that was established to accelerate the development of the OXi4503 and ZYBRESTAT for ophthalmology programs. Additionally, Symphony has invested $15 million directly in OXiGENE to be used for general corporate purposes, including for the development of ZYBRESTAT in oncology.
In July 2009, OXiGENE announced that the Company exercised its option to acquire all of the equity of Symphony ViDA in exchange for six million newly-issued shares of OXiGENE common stock. Based upon a price of $2.08 per share, the closing market price of OXiGENE common stock on July 2, 2009, the stock had a value of approximately $12.5 million. Under the terms of...See full deal structure in Biomedtracker
Zybrestat (Topical) News
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