Telomir Secures Worldwide Telomir-1 Rights with $1M Upfront and $4M Milestones
Telomir Pharmaceuticals completed acquisition of TELI Pharmaceuticals, consolidating global rights to Telomir-1 (Telomir-Zn) and received $1.0 million in initial funding with potential $4.0 million milestone payments tied to IND acceptance and Phase 1/2 trial initiation. The move enables unified development and partnership flexibility for its lead oncology program.
1. Acquisition Details
Telomir Pharmaceuticals has completed its previously announced stock-for-stock acquisition of TELI Pharmaceuticals, making TELI a wholly owned subsidiary. Shareholders approved the deal at Telomir’s March 23 annual meeting, consolidating all global rights to its lead candidate Telomir-1 (Telomir-Zn) under a single corporate structure and eliminating regional fragmentation.
2. Funding Structure
At closing, the company received $1.0 million in capital with agreements for up to $4.0 million in additional funding tied to key milestones. These payments are contingent on IND application acceptance and the start of a Phase 1/2 clinical trial, aligning former TELI shareholders’ contributions with clinical progress.
3. Clinical Development Plans
Telomir has submitted an Investigational New Drug application for Telomir-Zn targeting advanced and metastatic triple-negative breast cancer. Upon FDA clearance, the company plans to initiate a Phase 1/2 oral monotherapy trial, leveraging its newly unified global rights to explore partnership and commercialization opportunities.