Biora Therapeutics Continues to Monetize Legacy Diagnostics Assets
SAN DIEGO, July 05, 2023 (GLOBE NEWSWIRE) -- Biora Therapeutics, Inc. (Nasdaq: BIOR), the biotech company that is reimagining therapeutic delivery, today announced that it has completed an agreement with a large diagnostics company for the sale of legacy assets related to Biora’s former diagnostics business.
“This represents continued progress in monetizing our legacy assets,” said Eric d’Esparbes, Chief Financial Officer of Biora Therapeutics. “This transaction provides incremental non-dilutive funding to advance our therapeutics platforms, while enabling the assets to be leveraged for important diagnostic applications.”
Biora Therapeutics will receive a one-time payment for the sale of assets including rights to certain antibody sequences. Specific terms of the agreement were not disclosed.
About Biora Therapeutics
Biora Therapeutics is the biotech company that is reimagining therapeutic delivery. By creating innovative smart pills designed for targeted drug delivery to the GI tract, and systemic, needle-free delivery of biotherapeutics, the company is developing therapies to improve patients’ lives.
Biora is focused on development of two therapeutics platforms: the NaviCap™ targeted oral delivery platform, which is designed to improve outcomes for patients with inflammatory bowel disease through treatment at the site of disease in the gastrointestinal tract, and the BioJet™ systemic oral delivery platform, which is designed to replace injection for better management of chronic diseases through needle-free, oral delivery of large molecules.
For more information, visit bioratherapeutics.com or follow the company on LinkedIn or Twitter.
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Biora Therapeutics expressly disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Investor Contact
Chuck Padala
Managing Director, LifeSci Advisors
IR@bioratherapeutics.com
(646) 627-8390
Media Contact
media@bioratherapeutics.com
