BeyondSpring Inc. announced on January 28, 2025, that it has entered into definitive agreements to sell a portion of its Series A-1 Preferred Shares of SEED Therapeutics Inc. for gross proceeds of approximately $35.4 million. This strategic divestiture aims to unlock value from SEED while providing critical resources to advance BeyondSpring’s late-stage clinical trials for its lead asset, Plinabulin. BeyondSpring, along with a majority-owned subsidiary, is expected to retain approximately 14.4% of SEED’s outstanding shares.
Concurrently, SEED Therapeutics announced that its lead oncology asset, ST-01156, a novel RBM39 degrader, received both Rare Pediatric Disease and Orphan Drug designations from the U.S. Food and Drug Administration (FDA). These designations recognize ST-01156's potential to address significant unmet needs in rare oncology indications and may help expedite its development and approval process. SEED is advancing ST-01156 toward an Investigational New Drug (IND) application, with an expected filing in the first half of 2025.
The capital generated from the SEED divestiture is specifically earmarked to advance BeyondSpring’s 303 and 302 studies, which explore Plinabulin in combination with immune checkpoint inhibitors, towards registrational trials. This move allows BeyondSpring to focus resources on its core Plinabulin pipeline and explore business development partnerships for its innovative cancer therapy.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.