Baudax Bio (Nasdaq:BXRX), a Malvern, PA-based pharmaceutical company, acquired TeraImmune, a Germantown, MD-based privately held biotechnology company.
The amount of the deal was not disclosed.
Co-founded by CEO Yong Chan Kim, PhD, and Jihoon (Jay) Park, PhD, TeraImmune is a biotechnology company focused on discovery and development of novel Treg-based cell therapies for autoimmune diseases.
Led by Gerri Henwood, President and CEO, who will serve as a CEO of the combined entity, Baudax Bio is a pharmaceutical company focused on innovative products for acute care and related settings. The company has a pipeline of innovative pharmaceutical assets including two clinical-stage, novel neuromuscular blocking (NMBs) agents, one that recently completed a Phase II clinical trial and an additional NMB undergoing a dose escalation Phase I clinical trial, as well as a proprietary chemical reversal agent specific to these NMBs, which is currently undergoing nonclinical and manufacturing studies to prepare for an expected IND filing in the summer of 2023.
In conjunction with the transaction, Yong Chan Kim, Ph D, will be appointed to the Board of Directors of Baudax.
FinSMEs
03/07/2023