Viventia considers sale/merger in strategic review

Viventia Biotech is also going the way of the strategic review, promising to consider its sale or merger options as it advances new antibody therapies for cancer. HSBC has been brought in to advise the company.

"We have successfully advanced three antibody programs into clinical trials, and are about twelve months from expected final efficacy data for our pivotal Phase III TARGET trial of Proxinium. We believe that our recently performed interim efficacy analysis of survival data from TARGET strongly supports the future prospects for this drug. In addition to our clinical programs, we have generated a broad pipeline from our antibody discovery platform, which has yielded a number of compelling novel targets, including several that have expression profiles consistent with cancer stem cells, an exciting new area of cancer research," said Dr. Nick Glover, Viventia's president and CEO. "We believe it is important to explore all options to ensure adequate resources are available for the advancement of our products through to commercialization and to further recognize the value of our proprietary discovery platform."

- check out the press release