Aprea Therapeutics (Nasdaq: APRE) saw its shares tank almost 30% to $0.68, after it revealed it has completed the acquisition of the privately-held USA-based biotechnology company Atrin Pharmaceuticals.
Aprea will now prioritize the development of Atrin’s drug candidates, which are being developed to fight cancer by affecting the proteins involved in the ability of tumors to repair damage to their DNA.
With the acquisition of Atrin’s portfolio of candidate drugs, Aprea intends to shift its primary focus to the development of ATRN-119, a drug candidate that inhibits an important signaling pathway in DNA damage repair. ATRN-119 will soon be evaluated in clinical Phase I/IIa studies in the treatment of malignant solid tumors, both as monotherapy and in combination with standard treatment.
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