Catalyst Biosciences up on buying fibrosis drug candidate from GNI Group

GNI

27/12/2022 14:53

** Shares of Catalyst Biosciences Inc  CBIO.O  gain 9.3% to 
 $0.55 
    ** Co signs agreement with GNI Group Ltd  2160.T  to acquire
experimental drug F351 for treating liver scarring, or fibrosis
    ** Acquisition provides Catalyst with global rights to F351
in consideration for a combination of ~6.3 mln shares of
Catalyst's common stock and 12,340 shares of preferred stock -
CBIO
    ** F351 is currently being tested in China in a late-stage
study for treatment of liver fibrosis associated with Hepatitis
B infection 
    ** In a separate transaction, CBIO also says it will acquire
controlling interest in China-based commercial pharma company
Continent from the GNI Group
    ** CBIO shares have more than doubled this year 
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))