DLA Piper has advised Starpharma (ASX: SPL, US OTC: SPHRY), an innovative biotechnology company advancing dendrimer technology from the lab to the patient, on its increased equity interest in Petalion Therapeutics (“Petalion”) from 22.5% to 66%, securing majority ownership, governance control and operational leadership of the FAP-targeted DEP® oncology program.
Majority ownership will allow Starpharma to align development priorities, capital allocation and partnering decisions with its broader oncology portfolio, while Medicxi, a European investment firm who funded the initial R&D phase, retains strategic involvement and external development expertise.
Following completion of the initial R&D stage, Starpharma will lead the next phase and apply its dendrimer, conjugation and development capabilities to generate the evidence required for lead candidate selection and to define the program’s development and partnering pathway.
The DLA Piper team working on the deal was led by Corporate partner Robert Newman who was supported by associate Adam Weston.
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