Cash-hungry Thallion hunts for development partner

Thallion Pharmaceuticals is hunting for a partner to help with its development of Shigamabs, a therapy for E. coli food borne bacterial infections. The biotech says it will also delay its Phase II/III trial of the therapy in South America in recognition of the seasonality of infections. Analysts sounded skeptical, though, noting that Thallion needs to get its hands on new money in order to complete development of the therapy and the development delay will also delay any possible profits from the drug.

"Given the firm's estimated current cash level of around C$19 million, the costs for funding the Shigamabs trials would have necessitated either an additional financing initiative or the attainment of a commercialization partner who would contribute to the funding of the clinical program," noted Desjardins Securities analyst Maher Yaghi.

- here's the release
- read the report in the Canadian Press 

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