Nastech Pharmaceutical of Bothell, WA has bought Cambridge, MA-based Galenea's IP and technology rights to its RNAi work. The intellectual property was originally licensed from MIT to develop new treatments for respiratory viral infections like influenza and rhinovirus. Nastech also snapped up Galenea's work in pulmonary drug delivery technologies. Terms of the deal were not disclosed.
"This acquisition strengthens Nastech's existing RNAi therapeutics pipeline through the addition of Galenea's ongoing programs that target influenza and other respiratory diseases," said Steven C. Quay, M.D., Ph.D., CEO of Nastech. "The RNAi therapeutics program targeting the influenza virus is a high priority for Nastech as we believe it may offer an effective treatment for a future influenza pandemic, which is an urgent global concern."
- here's the report from Mass High Tech