Novartis and Johnson & Johnson-backed Catalyst has signed an agreement to form a newly merged company with Targacept, and will retain a majority stake of 65%.
Catalyst Biosciences, which is privately held and backed by pharmaceutical firms Novartis and Johnson & Johnson, has agreed to merge with another US-based biopharmaceutical company, publicly-listed Targacept.
The newly formed company will continue operations as Catalyst Biosciences and will be listed on Nasdaq. It will focus on developing proteases – a type of enzyme that breaks down proteins – and drug candidates to treat haemophilia.
Targacept specialises in treatments for serious nervous system, gastrointestinal and genitourinary diseases and disorders.
Founded…
