Alopexx Oncology will develop DI-Leu16-IL2, which Provenance had licensed from Germany-based Merck in March 2009.
US-based Provenance Biopharmaceuticals has raised $8m from a healthcare products acquisition company, Allopexx Enterprises, to fund development of an anti-cancer therapy from a new subsidiary.
Alopexx Oncology will develop DI-Leu16-IL2, which Provenance had licensed from Germany-based Merck in March 2009.
Stephen Gillies and Jason Walsh, the two co-founders of Provenance, had sold their former company, Lexigen Pharmaceuticals, to Merck, which had initially bought a 57% stake in 1998.
