Inspyr Therapeutics and Lewis and Clark Pharmaceuticals Complete Merger

World News: . []

WESTLAKE VILLAGE, Calif. and CHARLOTTESVILLE, Va., Sept. 13, 2017 (GLOBE NEWSWIRE) -- Inspyr Therapeutics (OTCQB:NSPXD), a clinical-stage biotechnology company, and Lewis and Clark Pharmaceuticals today announced the successful completion of a merger to create an integrated biotechnology company. The newly combined company creates a second proprietary technology platform, broad capability laboratory facilities, pipeline of therapeutics, and drug development expertise to create value across the business.

“This merger has significantly broadened the opportunities we can pursue, spanning from the discovery of new molecules through clinical development,” said Peter Grebow Ph.D., Chairman of Inspyr. “We believe the proprietary technology platform acquired from Lewis & Clark will generate a series of partnerships or collaborations in the near future.  The initial proprietary molecules generated on this platform are expected to have novel development applications in  immuno-oncology and inflammation.”

Under the merger agreement, Inspyr purchased Lewis and Clark in an all-stock transaction. Pursuant to the terms of the transaction, Lewis and Clark Pharmaceuticals is now a wholly-owned subsidiary of Inspyr and Lewis and Clark stockholders own approximately 50% of Inspyr’s common shares, on an as converted basis. In addition, Bo Jesper Hansen, M.D., Ph.D. is retiring from Inspyr’s Board of Directors and Lewis and Clark Director John Montgomery has been appointed to the Inspyr Board of Directors.

Inspyr Therapeutics, Inc. is an integrated biopharmaceutical company focused on the development of novel therapies to treat cancer, inflammation, and other serious diseases. Through a merger with Lewis and Clark, Inspyr has a proprietary, industry-leading technology platform based on adenosine chemistry and biology and a broad pipeline of novel therapies. The pipeline includes Mipsagargin, a dual A/A antagonist, an A antagonist, an A antagonist, and an A agonist. The Company has fully-equipped, state-of-the-art organic and analytical chemistry laboratories located in Charlottesville, Virginia, where a team of chemists and toxicologists have expertise in chemical synthesis and analysis, non-clinical dose formulation and plasma concentration analysis, assay development, and toxicology. For additional information on Inspyr Therapeutics, visit .

Lisa Cali408-239-7503

More news and information about Inspyr Therapeutics

Published By:

Globe Newswire: 14:00 GMT Wednesday 13th September 2017

Published: .

Search for other references to "inspyr" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2017. [Admin Only]
 
Sector Publishing Intelligence Ltd.
Ground Floor Offices, Little Keep Gate, Barrack Road, Dorchester, Dorset DT1 1AH
Registered in England and Wales number 0751938.
 
Privacy Policy | Terms and Conditions | Contact Us
 

Advertising on SPi News: Information For Advertisers