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Catalyst Completes Targacept Merger

The company now has $39 million in cash to advance R&D efforts

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By: Kristin Brooks

Managing Editor, Contract Pharma

Catalyst Biosciences, Inc. has completed the merger with Targacept, Inc. The combined company has approximately $39 million in cash to advance its R&D efforts, including the clinical development of CB 813d, Catalyst’s next-gen, long-acting coagulation Factor VIIa. CB 813d has demonstrated initial safety and pharmacologic activity to support Phase II trials in 2016 for the potential treatment of bleeding in hemophilia patients with inhibitors.
 
In connection with the merger, Targacept changed its name to Catalyst Biosciences, Inc. and will be headquartered in South San Francisco, CA. The combined company will operate under the leadership of Catalyst’s management team, including Nassim Usman, Ph.D., president and chief executive officer, Ed Madison, Ph.D., chief scientific officer and Fletcher Payne, chief financial officer.   
 
“With the completion of the merger, we are now well funded and will pursue the clinical development of CB 813d, our improved Factor VIIa, CB 2679d/ISU 304, our improved FIX for hemophilia B, as well as preclinical programs focused on an engineered improved Factor Xa and two novel proteases for the treatment of complement-mediated disorders,” said Nassim Usman, Ph.D., President and Chief Executive Officer of Catalyst. “Catalyst is at an exciting phase of growth as we pursue multiple, clinically relevant opportunities based on engineering human proteases to improve patients’ lives.”

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