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IP Group's portfolio company ApcinteX acquired by Centessa Pharmaceuticals
StockMarketWire.com
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Intellectual property-based businesses developer IP Group said its portfolio company ApcinteX was acquired by Centessa Pharmaceuticals.
ApcinteX was developing SerpinPC, a specific inhibitor of the anticoagulant protease activated protein C, for the treatment of hemophilia A and hemophilia B, with or without inhibitors.
Following the transition, IP Group now held a minority stake in Centessa, valued at £19.0 million, representing a fair value gain of £11.0 million from the holding value of ApcinteX at 30 June 2020, the company said.
In conjunction with the launch of a $250 million financing round, Centessa completed the merger of ten private biotech companies, including ApcinteX, that would each continue to develop its assets with oversight from the Centessa management team, the company said, citing an announcement from Centessa.
Story provided by StockMarketWire.com
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