Pharma BD Deal Intelligence
On October 20, 2026 Starpharma (ASX: SPL) increased its equity interest in UK-based Petalion Therapeutics from 22.5% to 66%, taking majority ownership, governance control and operational leadership of Petalion's fibroblast activation protein (FAP)-targeted DEP dendrimer-drug conjugate oncology program. Starpharma contributes up to A$5.0 million to Petalion - A$3.0 million in cash, funded from its recent capital raise allocation for new R&D pipeline opportunities, with the balance in R&D services. Medicxi retains a 30% interest, board representation and an active strategic role. The near-term objective is to generate the data needed to select a lead candidate and define the development and partnering pathway. FAP is a pan-cancer target highly expressed in the tumour microenvironment across many solid tumours. Starpharma shares fell 33% to A$0.50 on the announcement.
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