US-based Cellegy acquires Vaxis Therapeutics for $6M

San Francisco-based Cellegy Pharmaceuticals Inc has acquired Kingston ON-based Vaxis Therapeutics Inc for $6 million. Vaxis is a spin-off of Queen’s Univ through PARTEQ Innovation, the university’s technology transfer arm. Cellegy will rename the firm Cellegy Canada Inc and the R&D operation will remain in Kingston. Under the agreement, Cellegy will replace Vaxis as the licensee for technologies developed by Queen’s researchers for the treatment of vascular disorders, including male and female sexual dysfunction, Raynaud’s Disease and Restless Leg Syndrome....