BAKX Therapeutics to shut down after ‘scientific challenges’ and financing doldrums

BAKX Ther­a­peu­tics will shut down by Aug. 1, end­ing a “Thel­ma and Louise” ap­proach to can­cer small mol­e­cules af­ter sci­en­tif­ic, fi­nanc­ing and time­line chal­lenges up­end­ed the biotech, CEO Sree Kant post­ed on LinkedIn Tues­day.

The New York and Boston biotech emerged in 2020 and quick­ly drew the in­ter­est of Ipsen in a small up­front, but large back-end, deal worth more than $800 mil­lion. The goal was to go af­ter blood can­cers and sol­id tu­mors.

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