INCR -- Incara Pharmaceuticals Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : INCR -- Incara Pharmaceuticals

INCR 1.140

-5.0%

Dec 24 12:55 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: scaram(o)uche who started this subject	10/22/2002 1:29:33 PM
From: tuck	Read Replies (2) of 196

Worth another look now that they're focused on their best program? >>RESEARCH TRIANGLE PARK, N.C., Oct. 22 /PRNewswire-FirstCall/ -- Incara Pharmaceuticals Corporation (OTC Bulletin Board: INCR - News) today announced that its wholly owned subsidiary, Incara Cell Technologies, Inc. has agreed to sell substantially all of the assets and certain related liabilities of its liver cell and liver stem cell program to Vesta Therapeutics, Inc. The terms of the transaction were not disclosed. Vesta Therapeutics is a portfolio company of Toucan Capital Corp., a leading investor in regenerative medicine. Vesta Therapeutics is developing therapies for repair and regeneration of liver and other major organs. The completion of the transaction is subject to standard closing conditions including the receipt from third parties of consents to assignment of certain of Incara Cell Technologies' assets and liabilities. This divestiture will allow Incara Pharmaceuticals to focus on its catalytic antioxidant programs and reduce its operating expenses. "In the current financial environment, Incara Pharmaceuticals is not able to support both our liver cell therapy program and our catalytic antioxidant programs. We believe both programs offer great potential. However, our catalytic antioxidant programs provide a more traditional pathway to attract funding for drug development from established pharmaceutical companies that small companies like Incara need," stated Clayton I. Duncan, Chairman and CEO of Incara. "This agreement allows us to maintain an ongoing financial interest in the innovative liver cell therapy program without having to fund the extensive clinical trials that the program will require."<< snip Cheers, Tuck

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next