Calliditas Takes 100% Control Of Genkyotex

  • Swedish drugmaker Calliditas Therapeutics AB CALT has now taken complete control of Genkyotex after completing a centralized squeeze-out offer to all minority shareholders.
  • Deal terms were not disclosed.
  • Calliditas first acquired 62.7% in Genkyotex in 2020 for around $24 million.
  • Genkyotex's lead product candidate, setanaxib, is a first-in-class NOX inhibitor that targets NOX 1 and NOX 4, significant fibrogenesis drivers in multiple organs. 
  • In Q4 of 2021, Calliditas plans to initiate a 52-week, Phase 2b/3 design with setanaxib in 318 patients with primary biliary cholangitis (PBC).
  • Related: Calliditas' Chronic Orphan Liver Disease Candidate Receives FDA Fast Track Tag.
  • Calliditas will also initiate a Phase 2 proof-of-concept study in head and neck cancer in 2021 to evaluate setanaxib in conjunction with immunotherapy targeting cancer-associated fibroblasts.
  • After the squeeze-out, Genkyotex has become a wholly-owned subsidiary of Calliditas and has been delisted from the Euronext stock exchanges.  
  • Read Next: Calliditas Therapeutics Stock Falls As FDA Pushes Nefecon PDUFA Goal Date To December.
  • Price Action: CALT stock is down 2.66% at $20.12 during the premarket session on the last check Thursday.
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