|NetworkNewsBreaks – CytoDyn Inc. (CYDY) Announces Completion of ProstaGene, LLC Acquisition|
Biotechnology company CytoDyn Inc. (OTCQB: CYDY) this morning announced its completion of the previously detailed acquisition of privately held ProstaGene, LLC. Per the update, Richard G. Pestell, M.D., Ph.D., M.B.A., F.A.C.P., F.R.A.C.P., founder and former chief executive officer of ProstaGene, has been appointed to the CytoDyn board of directors and named chief medical officer with responsibility for leading all PRO 140 (leronlimab) programs in non-HIV indications. “Richard is a driving force in CCR5 antagonist research and we gain significant expertise and intellectual property with this acquisition that advances the development of PRO 140 as a novel cancer metastasis therapeutic,” Anthony D. Caracciolo, chairman of CytoDyn, stated in the news release. “We are privileged to have Richard join CytoDyn to expand our executive and scientific team, and we enthusiastically welcome him as the newest member of our board of directors.” Under the terms of the definitive agreement dated November 16, 2018, CytoDyn acquired substantially all of the assets of ProstaGene, including the transfer or assignment of certain intellectual property rights held by ProstaGene and Pestell.
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