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Caladrius Biosciences, Cend Therapeutics to Merge.

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Vincent

MANews-(C)2009-2022

US-based biopharmaceutical company Caladrius Biosciences, Inc. (NASDAQ: CLBS) and US-based biotechnology company Cend Therapeutics, Inc have entered into a definitive merger agreement under which Cend will merge with a wholly owned subsidiary of Caladrius in an all-stock approximate "merger of equals" transaction unanimously approved by the boards of directors of each company, the companies said.

Following closing, the combined company will be renamed Lisata Therapeutics, Inc. and will trade on the NASDAQ under the ticker symbol "LSTA."

The merger is currently expected to close in 3Q22 subject to the approval of Caladrius and Cend stockholders as well as the satisfaction of certain other customary closing conditions and applicable approvals.

Following the closing of the merger, Lisata is expected to advance CEND-1 as its lead product candidate in a variety of difficult to treat solid tumor applications, including pancreatic ductal adenocarcinoma, where the product is being evaluated in ongoing Phase 1 and Phase 2 clinical studies with Cend and its partner in China, Qilu Pharmaceutical.

CEND-1 is a proprietary cyclic peptide which undergoes protease mediated cleavage in the tumor microenvironment producing a C-end Rule or "CendR" peptide that potentiates transport across the tumor stroma and improves delivery of anticancer drugs to the tumor.

Additional Phase 1b/2 PDAC clinical data is expected as early as 2023.

Lisata also plans to initiate an additional trial in PDAC in combination with immunotherapy as well as a trial or trials exploring applications of CEND-1 in other...

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