Kalytera enters into binding letter of intent to acquire Talent Biotechs and its Phase 2 clinical-stage Graft versus Host Disease program.
Kalytera Therapeutics, Inc. has entered into a binding letter of intent (LOI) to acquire all of the issued and outstanding securities of Talent Biotechs Ltd., a privately held, Israeli-based developer of proprietary cannabidiol (CBD) therapeutics.
Under the terms of the LOI, Kalytera has made a non-refundable payment of USD$1,000,000 to Talent. The acquisition is subject to final due diligence by Kalytera, the negotiation and execution of a definitive agreement, and other customary closing conditions. The acquisition is expected to close on or before February 15, 2017.
Talent is advancing a Phase 2 clinical program investigating the use of CBD to prevent and treat Graft versus Host Disease (GvHD), described below. GvHD is an orphan condition that can arise following stem cell or bone marrow transplants. GvHD occurs when the transplanted cells attack