Magenta Therapeutics Entered into a Definitive Merger Agreement with Dianthus Therapeutics to Advance DNTH103 for Severe Autoimmune Diseases
Shots:
- The combined company will have ~$180M in cash or cash equivalents incl. ~$70M from concurrent private financing by Dianthus’ new & existing investors which is expected to provide funding into mid-2026. The transaction is expected to close in Q3’23
- The funding will support DNTH103 through multiple clinical data catalysts incl. P-I trial in healthy volunteers & P-II trials in gMG & other indications (expected to initiate in Q1’24). The combined company focuses on advancing Dianthus’ pipeline of complement inhibitors, incl. DNTH103 which is being studied in a P-I trial (expected to be completed at the end of 2023)
- Dianthus stockholders will own ~78.7% and pre-merger Magenta stockholders will own ~21.3% of the combined company. The combined company is expected to operate under the name Dianthus Therapeutics, Inc. & trade on the Nasdaq under the ticker “DNTH”
Ref: GlobeNewswire | Image: Magenta Therapeutics
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
