Shingles, which occurs due to the reactivation of the varicella-zoster virus, can cause a painful rash and is especially common in adults over the age of 50.
This designation is a significant milestone, as it provides incentives to encourage the development of treatments for rare diseases with high unmet medical needs.
This closure represents the end of a significant era for the Cherokee site, which has been in operation since the 1950s.
This funding will primarily support the clinical development of VT3989, an innovative cancer drug that targets the Hippo pathway by inhibiting the palmitoylation of TEAD proteins.
Under the merger terms, Endo shareholders will receive US$80 million in cash and own 49.9% of the combined company, while Mallinckrodt shareholders will hold 50.1%.
The funding will focus on advancing the clinical validation of Insilico’s flagship candidate, Rentosertib, which is designed to treat idiopathic pulmonary fibrosis (IPF).