In a significant move within the biopharmaceutical industry, Starpharma (ASX: SPL) and Medicxi have collaborated to establish Petalion Therapeutics in the UK, focusing on advancing dendrimer-based cancer therapies. With Medicxi's financial backing of up to $25 million, Petalion aims to leverage Starpharma’s proprietary DEP® dendrimer technology for developing novel oncology drugs. Starpharma, in this partnership, will license its technology to Petalion, receiving a 22.5% equity stake in return.
Dr. Mehdi Shahidi, with his extensive experience in pharmaceutical development, has been named CEO of Petalion, indicating a strong leadership foundation. This collaboration represents a strategic effort to address unmet needs in cancer treatment by combining Starpharma’s technological expertise with Medicxi’s investment acumen in drug development, signaling a promising venture into the development of innovative and potentially transformative cancer therapies.
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