Cerulean Pharma Inc (NASDAQ:CERU) a clinical-stage firm advancing nanoparticle-drug conjugates reported that its Board of Directors is performing a comprehensive assessment of strategic options focused on increasing stockholder value. The company has engaged Aquilo Partners, L.P. as its financial advisor to help in the strategic review process.
The objective of the strategic assessment is to assess potential options such as the sale of the firm, a merger, a strategic investment into the firm, a business combination or a license, disposition or sale of assets of the firm. This procedure may not lead in any deal. In its strategic assessment, the Board is pondering on Cerulean’s clinical assets, cash reserves and NDC platform.
Clinical assets comprise of company’s platform-generated NDC plans, CRLX101 and CRLX301. It has NDC Platform including Dynamic Tumor Targeting™ which advances NDCs that are intended to provide safer and effective cancer treatments. As of close of September 2016, the company posted cash and cash equivalents of $38.1 million.
The Cerulean team is dedicated to enhancing cure for people with cancer. They apply their Dynamic Tumor Targeting™ platform to develop a portfolio of nanoparticle-drug conjugates advanced to selectively attack tumor cells, lessen toxicity by sparing the normal cells, and allow therapeutic combinations.
CRLX101 is in clinical studies in arrangement with other cancer therapies, all of which intend to unlock the power of combination treatment. The second NDC clinical candidate, named CRLX301, is in its Phase 1/2a clinical study.
CRLX101 therapy is intended to concentrate in tumors and gradually discharge camptothecin inside tumor cells. It inhibits topoisomerase 1 which is a part of cellular replication. CRLX101 has demonstrated activity in numerous tumor types, both as single treatment and along with other cancer therapies. CRLX101 is in Phase II clinical advancement and has been administered in over 400 subjects. The U.S. FDA has given Orphan Drug designation to CRLX101 for the cure of ovarian cancer.
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