BCY, Pipex proposed business combination expires

By Elaine Rigoli

Tampa, Fla., July 27 - BCY LifeSciences, Inc. said the exclusivity period for the previously announced proposed business combination with Pipex Therapeutics, Inc has expired.

BCY has discussed this situation with Pipex and advised the company that the failure to complete the transaction has resulted in unforeseen financial burdens to BCY.

As Pipex has not requested an extension nor addressed the financial concerns, BCY said it will review other options.

In other news, BCY said it received an update from Align Pharmaceuticals on DCF 987, in which Align said it is continuing development that "will potentially allow Align and all other parties that are entitled to royalties to realize a revenue stream in the next few years," according to a news release.

BCY is a pharmaceutical technology company located in Toronto.

Pipex is a biopharmaceutical company located in Ann Arbor, Mich.

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