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.