Magenta Therapeutics, a clinical-stage biotech firm focused on enhancing stem cell transplantation, announced that it has completed a business evaluation, including a review of its programs, resources, and capabilities. Magenta has decided to cease further program development and conduct a complete examination of strategic alternatives aimed at maximizing shareholder value.
Magenta will investigate potential strategic options, including, but not limited to, a merger, acquisition, business combination, or other transaction, as part of this review process. There can be no certainty that this review process will result in Magenta seeking a deal or that any such deal if pursued, will be completed on favorable terms.
Magenta has not established a deadline for completing this review process and intends to speak further only if and when the Board of Directors has approved a clear course of action, the review process is completed, or another disclosure is considered to be appropriate.
About Magenta Therapeutics
Founded in 2016, Magenta Therapeutics is a clinical-stage biotechnology firm that develops therapies to help more patients with blood cancers, genetic diseases, and autoimmune diseases benefit from the curative power of stem cell transplant. Magenta is revolutionizing immunological reset for more patients by combining leadership in stem cell biology and biotherapeutics research with clinical and regulatory expertise, a new business model and vast networks in the stem cell transplant community.