X4 Pharmaceuticals has completed its previously announced merger with Arsanis in a move to create a late-stage biopharma company focused on rare diseases and cancer.
Both companies are based in Massachusetts. X4 Pharmaceuticals is engaged in developing drugs designed to boost immune cell trafficking for the treatment of rare diseases that include primary immunodeficiencies and cancer.
The company is developing oral, small molecule drug candidates that are designed to prevent the binding of chemokine CXCL12 to C-X-C receptor type 4 (CXCR4), which is a receptor-ligand pair that plays a crucial role in normal immune surveillance.
Arsanis, on the other hand, is involved in applying monoclonal antibody (mAb) immunotherapies for serious infectious diseases.
For X4 Pharmaceuticals, the merger with Arsanis will give it additional financial resources, strengthen its management, clinical development, and regulatory teams and also improve its research and development capabilities in Europe through the latter’s Vienna facility.
As per the terms of the deal announced in November 2018, X4 Pharmaceuticals shareholders exchanged each of their shares in the company with 0.5702 shares of Arsanis.
Following the merger, Arsanis will take the name of X4 Pharmaceuticals.
In the enlarged company, which will be headquartered in Cambridge, Massachusetts, the original X4 Pharmaceuticals stockholders will have a stake of around 70% while the original Arsanis stockholders own the remaining 30% or so stake.
Commenting on X4 merger with Arsanis, Paula Ragan – President and CEO of X4 Pharmaceuticals, said: “We are very pleased to complete this transformative event that enables us to achieve the next level of corporate growth as we seek to usher in a new generation of therapies for patients with rare genetic diseases and rare cancers. The merger enables us to accelerate our lead program with X4P-001 in WHIM syndrome towards Phase 3 as we evolve into a pre-commercial global corporation.
“With the acquisition of synergistic R&D capabilities, X4 intends to establish a globally-recognized Center of Research Excellence to build upon our core science and technology, and to create long-term growth for a sustainable global rare disease business.”