(RTTNews) - TransCode Therapeutics (RNAZ) has entered into a definitive agreement to acquire Polynoma, a privately-held biotechnology immuno-oncology company. Polynoma is developing a late-stage candidate, seviprotimut-L, a polyvalent shed antigen vaccine for the adjuvant treatment of stage IIB and IIC melanoma.
Concurrent with the acquisition, TransCode announced a $25 million investment from CK Life Sciences Int'l. to be used primarily to advance clinical development of TransCode's lead microRNA asset, TTX-MC138, into a Phase 2 clinical trial.
Philippe Calais, has been appointed as TransCode's CEO and remains Chairman of the Board, but has stepped down from his positions on the Board's Audit Committee and Compensation Committee. Tom Fitzgerald steps down as Interim CEO but remains CFO and a member of the Board.
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