Please do not leave this page until complete. This can take a few moments.
LipimetiX Inc. of Sudbury, a privately held pharmaceutical company, has entered into a joint agreement with an Arizona firm to develop a class of drugs aimed at lowering blood cholesterol levels, the companies announced.
Capstone Therapeutics of Tempe, Ariz., and LipimetiX will develop a family of drugs called Apo E mimetic peptides, which are licensed from The UAB Research Foundation, part of the University of Alabama at Birmingham. The work will be performed under a joint venture called LipimetiX Development LLC.
Under the terms of the agreement, LipimetiX will contribute its existing license agreement with the research foundation related to part of the family of drugs in return for voting common ownership units representing 40 percent of ownership in the joint venture. Capstone, meanwhile, will contribute $6 million and hold 60-percent ownership.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments