Gene editing biotech NeuBase Therapeutics is stopping program development and looking for a sale after its board of directors voted to close up shop and seek strategic alternatives.
After a review of the company’s business, the board decided this was the best path forward to maximize shareholder value, according to a Thursday press release. The board will now consider strategic alternatives, which could include an acquisition, merger, business combination or other transaction.
There’s no guarantee these efforts will result in a transaction, the company said. Even if NeuBase does strike a deal, there’s no guarantee of any benefit to shareholders.
There is no timeline for completion of the evaluation process and NeuBase will not communicate further updates until necessary.
Pittsburgh-based NeuBase set out to develop a technology called Stealth Editors, which conduct in vivo gene editing without triggering the immune system using a non-viral delivery mechanism. The goal was to develop a new wave of gene editing therapies that could potentially be redosed.
The biotech’s pipeline included five programs in blood diseases such as sickle cell and beta thalassemia, Huntington’s disease and KRAS-mutated cancers. All of its programs were preclinical.