Solve Therapeutics acquires Duke University spin-out
San Diego, USA-based Solve Therapeutics (SolveTx) has announced the acquisition of privately-held radiotherapeutics and radiodiagnostics company Cereius.
Cereius was co-founded by Professor Michael Zalutsky and Dr Kimberly Lynn Blackwell around technology initially developed at Duke University and further advanced by the Cereius research team.
The terms of the deal provide for Cereius shareholders to receive an undisclosed upfront payment and eligibility to receive additional development, regulatory, and commercial milestone payments. In addition, Cereius shareholders may receive tiered royalties on net sales from therapeutic and diagnostic products that SolveTx successfully commercializes.
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