Strategic merger plan for Yumanity and Proteostasis
Shares of Proteostasis Therapeutics (Nasdaq: PTI) were up 8.5% at $1.41 in early trading, after it was revealed that the company had entered into a definitive merger agreement with US neuroscience-focused start-up Yumanity Therapeutics.
The combined company, operating under the name Yumanity Therapeutics, will leverage a common scientific expertise in the area of protein misfolding to advance Yumanity's pipeline of innovative, disease-modifying programs for neurodegenerative diseases.
Yumanity's first clinical-stage product candidate, YTX-7739, is currently in Phase I clinical development for the treatment and disease modification of Parkinson's disease. Yumanity is also advancing several additional candidates for other neurodegenerative disorders, including dementia with Lewy bodies, multi-system atrophy, amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease), and frontotemporal lobar dementia (FTLD).
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