First Wave to repurpose Capeserod in deal with Sanofi
Florida, USA-based clinical-stage biotech First Wave BioPharma (Nasdaq: FWBI) has entered an agreement with French pharma major Sanofi (Euronext: SAN) to license Capeserod, a selective 5-HT4 receptor partial agonist, which First Wave will repurpose and develop for gastrointestinal (GI) indications.
The news sent First Wave’s shares soaring as much as 82% and still closing up nearly 17% at $0.51 yesterday.
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