OXiGENE Announces Plans to Acquire Symphony ViDA Along With Rights to ZYBRESTAT™ for Ophthalmology
July 8, 2009
OXiGENE, Inc. announced that it is exercising its option to acquire all of the equity of Symphony ViDA, Inc. in exchange for six million newly-issued shares of OXiGENE common stock. OXiGENE will also re-acquire all rights to the ZYBRESTAT™ for ophthalmology and OXi4503 programs that are currently licensed to Symphony ViDA.
ZYBRESTAT™ is a vascular-disrupting agent (VDA); this agent selectively targets and collapses tumor vasculature which leads the death of the tumor cells. In clinical trials with patients with macular degeneration, intravenously-administered ZYBRESTAT™ has demonstrated activity, and OXiGENE plans to develop a topical formulation for ophthalmological indications.
OXi4503 is a dual-mechanism VDA that is in development for the treatment of solid tumors.
OXiGENE is a clinical-stage biopharmaceutical company which develops novel therapeutics to treat cancer and eye diseases. The company’s major focus is developing vascular disrupting agents (VDAs) that selectively disrupt abnormal blood vessels associated with solid tumor progression and visual impairment.
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