BioAdvance Release: Merganser Biotech Announces Signing of Option to License Minihepcidin Technology from University of California, Los Angeles (UCLA)

NEWTOWN SQUARE, Pa.--(BUSINESS WIRE)--Merganser Biotech today announced the signing of an option to license a novel class of hepcidin mimetic peptides that have been discovered in the laboratory of Professor Tomas Ganz and Dr. Elizabeta Nemeth at UCLA. The Company will evaluate these novel peptides as potential therapeutics for the treatment of beta thalassemia and other diseases associated with iron overload. Coincident with the signing of this option agreement the company has also obtained funding from a consortium that includes BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania, and individual investors. In connection with this financing Colin Goddard, Ph.D. formerly CEO of OSI Pharmaceuticals, Inc. has been appointed as Chairman of the Board of Directors.