NTEC - Intec Pharma (NTEC) shares rocket 87% on merger deal with Decoy Biosystems

Intec Pharma (NTEC) surges 87% premarket after entering into a merger agreement with privately-held Decoy Biosystems.The combined company will advance its immunotherapy platform to battle a variety of tumor types and chronic viral infections.Upon completion of the merger, the former Decoy stockholders and Intec shareholders are expected to own ~75% and ~25%, respectively of the combined company. The merger is expected to close in Q3.Decoy previously held a pre-IND meeting with the FDA, currently plans to file an IND in H2 and to initiate a Phase I trial in 2022 targeting solid tumors and lymphomas."This transformative transaction provides Intec with a robust clinical pipeline based on a novel immunotherapy platform and gives Intec entrée into the exciting area of immuno-oncology," said Jeffrey A. Meckler, Vice Chairman and CEO of Intec Pharma.The combined company is expected to be led by Jeffrey Meckler as CEO and Michael Newman as Chief Scientific Officer with Dr.

For further details see:

Intec Pharma (NTEC) shares rocket 87% on merger deal with Decoy Biosystems