Samaritan to acquire Metastatin

By Elaine Rigoli

Tampa, Fla., July 27 - Samaritan Pharmaceuticals, Inc. has signed a letter of intent to acquire all of the shares of Metastatin Pharmaceuticals, Inc.

"We look forward to integrating this technology into our pipeline to build our cancer drug portfolio. We plan to develop Metastatin's lead drug candidate, known as recombinant uteroglobin, or rUG, as a replacement therapy for epithelial cell cancers," Samaritan chief executive officer Janet Greeson said in a news release.

The proposed purchase price was not disclosed.

Metastatin is a development-stage biopharmaceutical company based in Bethesda, Md.

Samaritan is a small-cap biotechnology company based in Las Vegas.

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