Collidion acquires 80% stake in Plex Pharmaceuticals

USA-based Collidion has entered into a definitive agreement to acquire an 80% equity stake in Plex Pharmaceuticals (formerly known as CalAsia) in exchange for an undisclosed amount of cash and contributing a novel drug asset under development.

Under the terms of this agreement, Collidion will provide management and operational support as Plex continues its drug discovery programs, which include treatments for Parkinson's disease, glioblastoma, and cataracts. Plex's drug discovery programs have received funding through several grants from the National Institutes of Health (NIH) and the Michael J Fox Foundation for Parkinson's Research (MJFF).

"This acquisition provides Plex with a strong financial footing and enables further development of our proprietary pipeline of therapeutic candidates," said G Sridhar Prasad, Plex's president and chief scientific officer.