Ercole Biotech to be bought
Published: Sat, Mar. 15, 2008 12:30AM
Modified Sat, Mar. 15, 2008 02:44AM
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closeRESEARCH TRIANGLE PARK -- Ercole Biotech, a UNC-Chapel Hill spinoff that employs eight, will be bought by a Portland, Ore., drug development company in a $9 million stock and cash deal.
Ercole and AVI BioPharma have been collaborating to develop a treatment for Duchenne muscular dystrophy, a fatal muscle-wasting disease. The drug is being tested in humans in Britain.
AVI expects to maintain a presence in the Triangle after the deal is completed next week. The publicly traded company is focusing on treatments for gene-based diseases, including drugs that promise an alternative to gene therapy.
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