Friday, August 4, 2017

Plex Pharmaceutials Acquired By Collidion

San Diego-based Plex Pharmaceuticals (previously known as CalAsia Pharmaceuticals), a developer of treatments for Parkinson's disease, glioblastoma, and cataracts, announced this week that it is in a definitive agreement where Collidion has acquired 80 percent of the company's equity. The two said that Collidion will provide management and operational support as Plex continues its drug discovery programs as part of the deal. Plex Pharmaceuticals was led by CEO G. Sridhar Prasad, who will shift to Director and Chief Scientific Officer at the company; Collidion Chairman and CEO Hoji Alimi has been appointed Chairman and Chief Executive Officer of Plex, among other executive moves.