Biodexa proposal to buy Varian Biopharmaceuticals

24 May 2023

UK headquartered Biodexa Pharmaceuticals (Nasdaq: BDRX), a company developing treatments for metastatic brain cancers, has signed non-binding letter of intent to potentially acquire Varian Biopharmaceuticals, a private US precision oncology company developing novel therapeutics for the treatment of cancer.

Varian is developing a small molecule atypical protein kinase C iota (aPKCi) inhibitor for treating cancer. Varian’s pipeline comprises lead candidate VAR-101 (basal cell carcinoma, BCC) and VAR-102 (solid tumors), both in pre-clinical development.

In recent communications, Biodexa has referenced a shift in strategy from a drug delivery company to a therapeutics company. Currently, the company’s only clinical asset is MTX110 which is being developed for three intractable rare and orphan brain cancers. The company’s intention is to add to, and diversify, its development pipeline with a continued focus on rare and orphan products and/or oncology therapeutics and Varian represents the first of such opportunity.

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