Doctors and scientists across the country were pleased to hear that two biotechnology companies, who are both currently developing cures for brain and ovarian cancer, have completed their merger transaction this month.
According to reports, the two companies, DNAtrix and VectorLogics, have felt that this was a merger that had been a long time coming. "The merger makes strategic sense, and we are now a much stronger company in all respects," said the chief executive officer for the newly merged company.
The merger comes at perfect timing for both companies; for DNAtrix, they are currently testing their new drug DNX-2401 in clinical trials at the University of Texas. The drug is being used towards the treatment of high grade brain tumors. For VectorLogics, the addition of their staff, research and equipment will greatly increase the chances for this drug to be approved by the FDA in future treatments.
Scientists from VectorLogics, who have been working on a similar drug, hope that by combining research, they will be able to adapt this drug to any form of cancer for people at any stage in the treatment process.
According to reports, the company will retain the name DNAtrix. Reports have not, however, described how this merger will affect the work force or not, or what this will mean for shareholders in either company.
The privately-owned biotechnology company, DNAtrix, has been working on its oncolytic virus treatment for more than a decade and hopes that this new merger will help progress the cure to a new level.
Source: The Sacramento Bee, "DNAtrix and VectorLogics Complete Merger Transaction," PRNewswire, Oct. 23, 2012