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A Verseau Therapeutics shareholder can inspect the private company’s records for evidence that conflicts of interest marred a decision made by its board of directors to reject a funding proposal, a Delaware court has ruled.
Vice Chancellor Paul Fioravanti of the Delaware Chancery Court said on Friday that shareholder Alexandria Venture Investments’ is entitled to the records, writing that the venture capital firm had cleared the “very low” bar required to receive further information on the board’s rejection of Alexandria’s proposal to lead a $30 million financing round in April.
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SHANGHAI, Dec. 14, 2020 /PRNewswire/ 3SBio Inc. ( 3SBio ) s subsidiary, Sunshine Guojian Pharmaceutical (Shanghai) Co. Ltd. ( Sunshine Guojian ) and Verseau Therapeutics, Inc. ( Verseau ) today announced the selection of a monoclonal antibody targeting VSIG4, as a licensed program under their partnership agreement focused on the development and commercialization of novel monoclonal antibodies in the field of immuno-oncology for a broad range of cancers. This is the second licensed program under the partnership agreement signed between the parties in 2019. The first licensed program was granted by Verseau to Sunshine Guojian for VTX-0811, a novel PSGL-1-targeted antibody in the field of immuno-oncology, on November 18, 2019.