VioQuest Pharmaceuticals of Monmouth Junction, New Jersey, has struck a deal to merge with Greenwich Therapeutics. The takeover will give VioQuest control of two anti-cancer agents Greenwich had in development. In the deal, Greenwich shareholders will receive 47 percent of VioQuest stock on a fully diluted basis.
"We believe that both SSG and TCN-P are attractive compounds for development, given the evidence of their clinical and pre-clinical efficacy," said VioQuest CEO Daniel Greenleaf. "We further believe that both SSG and TCN-P provide for a targeted approach in potentially treating specific tumors in the areas of ovarian, breast, pancreatic, melanoma, myeloma, and renal cancers. We are also very pleased to be working with two renowned cancer research centers, The Cleveland Clinic Taussig Cancer Center in Ohio and The Moffitt Cancer Center in Florida."
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