Skye Bioscience completed the acquisition of Bird Rock Bio for $20m.

Skye Bioscience, a pharmaceutical company developing proprietary molecules to treat diseases involving inflammatory, fibrotic, and metabolic conditions, completed the acquisition of Bird Rock Bio, a clinical-stage biopharmaceutical company focused on developing innovative immuno-inflammatory regulators, for $20m. "Nimacimab is poised to deliver on the promising potential of safe CB1 inhibition. Prior pre-clinical and clinical data demonstrated positive safety and tolerability of nimacimab. There have been no observed effects on the central nervous system, which has been a challenge with certain other CB1-inhibitors. We look forward to the Skye team moving this program into Phase 2," Paul Grayson, Bird Rock CEO.