Trillium Therapeutics Merges with Stem Cell Therapeutics
February 06, 2013
After raising several rounds of venture funding, Trillium Therapeutics has entered into an agreement to merge with Stem Cell Therapeutics (SCT) for $1.2 million in cash and $1.65 million in SCT common shares. The deal fits well with the mission statement on SCT’s website, which includes “expand[ing] the Company’s interest by acquiring new early-stage clinical or late-stage developmental candidates initially in Canada and internationally." Trillium is a biopharmaceutical company focused on cytoprotection and immune regulation, and has two cancer treatments in preclinical development, as well as a clinical-stage drug designed to treat a chronic bladder disease known as interstitial cystitis. As part of the deal, Trillium’s CEO, Dr. Niclas Stiernholm, will become CEO of SCT. Investors making their exit from Trillium include Business Development Bank of Canada, Canadian Medical Discoveries Fund, GrowthWorks Canadian Fund and VenGrowth Capital.