Adnexus Biotechnologies Inc. Announces a Merger Agreement to Acquire Sanctum Therapeutics Corporation
DALLAS, TX, November 6, 2024 (Newswire.com) - Adnexus Biotechnologies Inc. is pleased to announce the completion of a merger agreement with Sanctum Therapeutics Corporation to acquire Sanctum Therapeutics and its core technology assets for treating HIV and SARS-CoV-2. This merger will combine the two biotechnology companies' significant resources and expertise, including technology being developed at the Missouri Innovation Center, Columbia, Missouri, where Sanctum Therapeutics' technology developments are conducted. The combination of resources and expertise is anticipated to significantly enhance the research capabilities of the Center, thereby contributing to the local biotechnology ecosystem.
Adnexus Biotechnologies Inc. has a state-of-the-art AI drug discovery and development platform that will be combined with Sanctum Therapeutics' significant assets. This acquisition strengthens Adnexus Biotechnologies Inc.'s HIV drug portfolio. The combination of Adnexus Biotechnologies' short-acting anti-HIV monoclonal antibodies with Sanctum Therapeutics' long-acting HIV capsid inhibitor provides a potent therapy option for patients. This combination of drugs not only enhances potency and reduces the likelihood of the virus developing resistance but also paves the way for significant market growth in the future. The partnering companies are currently advancing several innovative drugs, including inhibitors targeting antimicrobial-resistant infections, all developed using the advanced Sutra AI Drug Discovery Platform.
The two companies' therapeutic technologies combine two advanced therapeutic approaches: a long-acting capsid inhibitor (chemotherapeutic agent) and short-acting monoclonal antibodies (immunotherapeutic agents) designed to target HIV through a dual-action mechanism. This synergy significantly strengthens Adnexus' robust infectious disease portfolio. Sanctum's promising SARS-CoV-2 entry inhibitor assets also expand Adnexus' capabilities and position it at the forefront of drug discovery and infectious disease treatment. By acquiring Sanctum Therapeutics, Adnexus gains innovative pharmacological expertise and a team of seasoned professionals skilled in navigating the FDA regulatory landscape. This strategic alignment positions Adnexus to accelerate the development of high-impact therapies, driving growth and delivering value for the Company.
The CEO of Sanctum Therapeutics, Pat Krishnan, stated, "The merger with Adnexus Biotechnologies Inc. is an exciting opportunity to join forces with a strong biotechnology company that is pushing the boundaries of drug development with its advanced AI platform, monoclonal antibodies, and AI-empowered biomarkers discovery. We believe there is great synergy and advantage in combining our two companies' complementary technologies and biotech teams. We are confident this combination will result in long-term value and benefit."
Adnexus Biotechnologies Inc.'s CEO, Dr. Gaurav Chandra, added, "Adnexus Biotechnologies Inc. is focused on strengthening its asset portfolio through acquiring and licensing its technologies. Sanctum Therapeutics' HIV capsid inhibitor has shown promising results in neutralizing HIV, making it a valuable addition to Adnexus Biotechnologies Inc.'s therapeutics portfolio. By combining our expertise with that of the members of the Sanctum team, who have advanced expertise in the fields of chemistry, pharmacology, and drug manufacturing, we are confident that Adnexus Biotechnologies Inc. will emerge as a full-fledged biotechnology company with the capability to independently develop valuable therapeutics, resulting in the creation of significant value for our shareholders."
Adnexus Biotechnologies Inc. recently executed a Letter of Intent with 1606 Corp (OTC: CBDW), an AI technology company, to invest strategically in the Company.
About Adnexus Biotechnologies Inc.
Adnexus Biotechnologies Inc. is a leading innovator in biotechnology, specializing in AI-driven solutions for early drug discovery, infectious disease, and neurodegenerative disease research. Its proprietary methods focus on developing therapeutic solutions by leveraging human immune-B cells, offering a cutting-edge approach to creating highly effective treatments. For more information, please visit https://www.adnexusbiotech.com
Industry Information
The HIV drug industry is a significant and rapidly evolving sector within the pharmaceutical market. As of 2024, the global HIV drugs market was valued at approximately $36.11 Billion and is projected to grow to $58.24 Billion by 2032, with a compound annual growth rate (CAGR) of 6.2%. This growth is driven by factors such as the increasing prevalence of HIV, advancements in drug development, and rising healthcare expenditure.
The global market size for artificial intelligence in drug discovery was estimated at USD 1.5 Billion in 2023 and is projected to grow at a CAGR of 29.7% from 2024 to 2030. The demand for AI-powered solutions in drug discovery is increasing due to the need for new drug therapies, expanded manufacturing capacities in the life sciences industry, and technological advancements. AI technologies such as machine learning and deep learning are being used at various stages of drug discovery, including initial compound screening and predicting success rates in clinical trials. Additionally, the growth of startups developing AI-powered solutions and increased investments and funding drive market expansion.
Forward-Looking Statements
This press release includes forward-looking statements under federal securities laws, including projections and expectations regarding business developments, operations, and market conditions. These statements are identified by terms such as "should," "may," "intends," "anticipates," and others. While based on reasonable assumptions, results may differ due to various risks and uncertainties. Please review cautionary statements and disclosures in our filings with the SEC. Adnexus does not undertake any obligation to update forward-looking statements except as required by law. For inquiries, please get in touch with Dr. Gaurav Chandra, CEO, gaurav.chandra@adnexusbiotech.com
https://www.adnexusbiotech.com
https://www.cbdw.ai
Contact Information
Gaurav Chandra
CEO
gaurav.chandra@adnexusbiotech.com
SOURCE: Adnexus Biotechnologies Inc.
Source: Adnexus Biotechnologies Inc.