22 March 2018
Micar Innovation (Sofia, Bulgaria) today announced signing of a definitive agreement in which Micar Innovation create new spin out company Pancreatic Pharmaceuticals. Under terms of the agreement, Micar Innovation grants Pancreatic Pharmaceuticals (Sofia - Bulgaria) an exclusive option to license and develop MIC6479 drugs targeting Pancreatic Cancer disease. Pancreatic Pharmaceuticals capital is in the hands of Micar Innovation driven by impact and provide value to our future investors.
Spin off: Micar Innovation list the subsidiary on the public market as an independent public company Pancreatic Pharmaceuticals, so that investors who are only interested in the Pancreatic Cancer business can invest only in this section. The independent new company usually operates with more accountability and responsibility.