CytoDyn gears up for acquisition, expansion of its lead drug candidate

Vancouver-based CytoDyn Inc. (OTC.QB:CYDY), which is developing an HIV therapy, has signed a letter of intent to acquire ProstaGene LLC, which is focused on prostate cancer diagnostics and therapeutics. Cytodyn CEO Nader Pourhassan said he expects the deal to close in a few weeks. ProstaGene will accept company shares instead of cash, he said. CytoDyn’s lead product under development, called PRO 140, is a monoclonal antibody for HIV infection. It blocks the HIV co-receptor CCR5 on T-cells and…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news