Starpharma secures majority stake in Petalion Therapeutics

• Starpharma expanded its ownership in Petalion Therapeutics from 22.5% to 66%.
• The transaction includes up to $5 million to fund Petalion’s oncology programme through its next development phase.
• Starpharma gains governance control and operational leadership over a fibroblast activation protein drug candidate.

Starpharma (ASX:SPL) increased its equity interest in Petalion Therapeutics to 66%.

The transaction raises Starpharma’s stake from 22.5% to secure majority governance control and operational leadership.

“Petalion is strongly aligned with our strategy to build a focused portfolio of differentiated targeted-oncology therapies,” said Starpharma CEO Cheryl Maley.

Starpharma agreed to contribute up to $5 million, comprising $3 million in cash and the remainder in research and development services.

Medicxi will retain a 30% interest and board representation, and following the announcement, the Starpharma share price was down at $0.62.

The acquisition adds a targeted dendrimer-drug conjugate to Starpharma's clinical portfolio.

Starpharma stated that the deal aligns development priorities with its broader drug delivery strategy.