Fabrus Planning to Merge With New Jersey Biotech CompanyMonday, December 30, 2013
Fabrus Inc. will merge with Senesco Technologies Inc., the companies announced.
Fabrus, a San Diego biotech, will merge with a wholly owned subsidiary of Senesco (OTC: SNTI). According to the companies, Senesco and Fabrus shareholders will each receive about 50 percent of the combined companies.
The privately held Fabrus was formed in 2007 in Pfizer Inc.’s La Jolla life science incubator. Investors include Pfizer and Opko Health Inc. Fabrus is developing molecules used by the immune system — called monoclonal antibodies — to treat a cancer of the kidney and other diseases.
Senesco, , a Bridgewater, N.J.-based biotech company, is a clinical-stage biotech company specializing in cancer therapeutics. Its gene regulation technology has demonstrated the ability to kill cancer cells while protecting healthy cells, the company said. It is working on a treatment for certain blood cancers such as multiple myeloma and leukemia.