COEP - Coeptis stock jumps ~20% on rights to acquire cancer drug assets from Deverra

2023-04-18 08:16:25 ET

• Coeptis Therapeutics ( NASDAQ: COEP ) said it gained an exclusive right, until Aug. 31, to negotiate the acquisition or license certain assets related to Deverra Therapeutics' allogeneic immuno-oncology NK (natural killer) platform.
• The transaction, if finalized, would give Coeptis, among other assets, exclusive rights to two FDA approved investigational new drug (IND) applications and two phase 1 trials evaluating infusion of DVX201, a NK cell therapy for blood  malignancies and viral infections.
• In addition, Coeptis would get access to a scalable allogeneic cellular immunotherapy platform which is being developed to generate and deliver off-the-shelf, cost effective, on demand cell therapies for a broad patient population.
• Deverra expects data from a phase 1 trial in acute myeloid leukemia (AML) to be complete during H2 2023.
• Following completion of the transaction, Colleen Delaney, Deverra's current scientific founder, chief scientific officer and EVP, Research & Development, would be expected to take the role of chief scientific and medical officer at Coeptis.
• The proposed transaction is subject to due diligence, negotiation and execution of definitive documentation based on agreed terms and closing conditions.
• COEP +19.72% to $1.70 premarket April 18

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