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Cerulean Shifts From Ovarian Cancer To Contraceptives In Reverse Merger With Daré

 
• By Mandy Jackson

Cerulean and privately-held Daré entered into a stock purchase agreement that will give the latter company's shareholders a majority stake in the combined company, which will focus on women's health – particularly contraceptives – instead of the former firm's nanoparticle-drug conjugates for cancer.

Handshake of businessmen

Cerulean Pharma Inc. has sold the last of its assets and will flip its empty shell to Daré Bioscience Inc. during the second quarter of 2017, now that the company has given up all hope that a partner would come to the rescue after a devastating Phase II clinical trial failure last year.

Waltham, Mass.-based Cerulean will execute a reverse merger that will give shareholders of the privately held women's health firm Daré, headquartered in San Diego, Calif., a majority stake in the combined company. The stock purchase agreement will give Cerulean shareholders 30% to 49% ownership and Daré shareholders will have a 51% to 70% stake

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