Catalyst Biosciences, Targacept deal

Targacept and Catalyst will merge, with Catalyst shareholders owning about 65% of the combined company and Targacept shareholders owning the remaining portion. The resulting company expects to have $40 million at closing. Targacept will provide $35 million and TC-6499, a small molecule agonist of nicotinic acetylcholine receptors alpha(3)beta(4) and alpha(4)beta(2) that is in Phase I/II testing to treat gastroparesis. Catalyst will provide $5 million and an early stage hemophilia pipeline, which includes Catalyst’s CB 2679d. The recombinant Factor IX protein is in preclinical testing for hemophilia B, with Phase I testing slated for next year. CB 2679d is partnered with Isu Abxis Co. Ltd. (KOSDAQ:086890, Seoul, South Korea) under a 2013 deal (see BioCentury, Oct. 14, 2013). ...