Lodo Therapeutics completed the acquisition of Hibiskus BioPharma.

Lodo Therapeutics, a biotechnology company, completed its acquisition of Hibiskus BioPharma, an early-stage pharmaceutical venture pursuing the development of novel small-molecule cancer therapy. Financial terms were not disclosed. "This is our second targeted transaction at Lodo and reflects our disciplined acquisition strategy based on the extensive experience of our senior team in executing value-creating transactions. We believe these novel proteasome inhibitors are an excellent fit for Lodo. They are derived from natural products and have the potential for improved efficacy and therapeutic index compared to existing proteasome inhibitors, a mainstay of multiple myeloma treatment. Early studies conducted at the NCI and elsewhere suggest that LODO-141 may have utility in treating solid tumors. We intend to assess its potential as a single agent and also in combination with cancer immunotherapy," Dale Pfost, PhD, Lodo Chairman and CEO.