NBSE - NeuBase snaps gene modulating technology from Vera Therapeutics

NeuBase Therapeutics (NBSE) has climbed ~14.4% in pre-market trading after the company announced a binding agreement to acquire infrastructure, programs, and intellectual property for several peptide-nucleic acid (“PNA”) scaffolds from Vera Therapeutics.The new peptide nucleic acid technology has demonstrated an ability to resolve disease in genetic models of several human indications, the company said in a statement."With this acquisition, we enhance our PATrOL™ platform, furthering our unique ability to directly engage and correct malfunctioning genes with exquisite precision to address the root causes of a wide variety of human diseases,” commented Dietrich A. Stephan, CEO of NeuBase.The transaction is expected to close in Q1 2021, and the financial terms of the deal were not disclosed.As of Q3 2020, the cash and equivalents at NeuBase have risen to ~$32M more than a fourfold increase from the end of 2020.

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NeuBase snaps gene modulating technology from Vera Therapeutics