Calliditas Therapeutics AB (publ) [NASDAQ: CALT] has announced the acquisition of Genkyotex SA. The company has now become the owner of 100% share capital of Genkyotex SA. Now the firm has finalized the acquisition of Genkyotex so it is planning to fully integrate the business and thereby leverage the platform in the most favorable way.
It has been disclosed that after the completion of the acquisition, Genkyotex has become a fully-owned subsidiary of Calliditas and has been delisted from the Euronext stock exchanges. Shares of Calliditas Therapeutics AB plunged -2.66% during the pre-market trading session of Thursday.
Furthermore, Calliditas intended to commence a 52-week, randomized, placebo-controlled, double-blind, study with an adaptive phase 2b/3 design with Setanaxib in 318 sufferers experiencing primary biliary cholangitis (PBC) in Q4 2021. Setanaxib is the lead product candidate of Genkyotex. It is a first-in-class NOX inhibitor that targets NOX 1 and NOX 4, which are major drivers of fibrogenesis in multiple organs.
In addition, Calliditas will also commence a Phase II proof-of-concept study in head and neck cancer in 2021, which will examine the inoculation of Setanaxib in combination with immunotherapy targeting cancer-associated fibroblasts (CAFs). Previously in August 2021, Calliditas obtained FDA fast track designation for Setanaxib in PBC.