Monday, June 10, 2019

Edesa Biotech and Stellar Biotechnologies Complete Merger

Toronto- and Los Angeles-based Edesa Biotech has merged with Stellar Biotechnologies, according to the two companies, and will focus on development and advancement of innovative treatments for dermatological and gastrointestinal indications. The newly combined company will operate as Edesa Biotech. The company, which has its headquarters in Toronto, also has an office in Port Hueneme, in Ventura County, where Stellar Biotechnologies had been headquartered. Financial details of the transaction were not announced by the company. According to Edesa Biotech, its lead product candidate is EB01, is a non-steroidal, anti-inflammatory treatment for chronic allergic contact dermatitis. The two companies had announced their merger deal back in March.