Aspireo, Cortendo deal

Cortendo will acquire Somatoprim ( DG3173) from Aspireo for $30 million in Cortendo equity. The somatostatin analog that suppresses human growth hormone (hGH) secretion by targeting somatostatin receptors 2, 4 and 5 is in Phase II testing to treat acromegaly. Cortendo said other potential indications include Cushing’s syndrome and neuroendocrine tumors. Evotec AG (Xetra:EVT, Hamburg, Germany) is providing advisory support to Aspireo on partnering and developing Somatoprim. Evotec is eligible for royalties. ...