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Genta to acquire Salus Therapeutics, expanding oligonucleotide-based therapeutics patent position.

Publication: BIOTECH Patent News
Publication Date: 01-AUG-03
Format: Online - approximately 799 words
Delivery: Immediate Online Access

Article Excerpt
Genta, Inc. (Berkeley Heights, NJ) announced that the company has entered into an agreement to acquire Salus Therapeutics, Inc. (Salt Lake City, UT), a company that specializes in the identification and development of drugs that are based on DNA or RNA, including antisense, small interfering...

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...RNAs (siRNA), and delivery systems for DNA/RNA-based drugs. Upon closing, Genta will issue approximately $13 million in Genta stock to Salus shareholders as an upfront payment. Contingent upon the achievement of certain preclinical and clinical milestones, an additional $17 million dollars may be paid in stock or cash at Genta's option. The purchase of Salus by Genta has been approved by the Boards of Directors of both companies and by a majority of the...

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