Canada's Thallion Pharmaceuticals has brought in Desjardins Securities to advise the company as it reviews a takeover offer.
In a brief statement, Thallion noted that the strategic review was triggered by "the receipt of an expression of interest by an un-named pharmaceutical company to purchase all of the outstanding shares of the company." The board created a committee of independent directors to oversee the review process and make recommendations.
Thallion has three mid-stage development programs underway. The two oncology product candidates include TLN-4601, a novel anti-cancer therapy targeting the RAS-MAPK pathway, and TLN-232, a peptide therapy targeting the M2 isoform of the metabolic enzyme pyruvate kinase (M2PK), with potential efficacy in multiple oncology indications. TLN-4601 and TLN-232 are currently recruiting patients in their respective multi-centre, Phase II, North American clinical trials with interim results expected in H1 2009. Thallion's third product candidate, Shigamabs, is a dual antibody product for the treatment of Shigatoxin producing E. coli bacterial infections.
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