Following the completion of the acquisition, Novosteo stockholders will own ~15.5% of the combined company & the transaction is expected to close in the next 30 days. The companies will operate under a new name Quince Therapeutics & trade under the ticker symbol “QNCX” in the coming mos.
The acquisition expands Cortexyme’s pipeline with the addition of NOV004 for rare skeletal diseases, bone cancer & injury including osteogenesis imperfecta. The P-I study of NOV004 is expected to initiate in 2023
NOV004 can increase bone production & stability resulting in mobility gain in a distance & speed as early as 12 days in animal studies. The P-II trial of COR388 is expected to be initiated in H2’22 for malignant disorders
Ref: Cortexyme | Image: Cortexyme
