A Montreal biotechnology company has relocated its headquarters to Danbury, having secured commercial rights to potential cancer drugs first developed in Israel.
Immunovative Inc. is leasing space at Matrix Corporate Center, where Boehringer Ingelheim Pharmaceuticals Inc. has hundreds of employees adjacent to its U.S. headquarters in Ridgefield.
In its most recent filing with the U.S. Securities and Exchange Commission, Immunovative reported a $900,000 loss and assets just short of $1 million, and said its current finances “raise substantial doubt” about the company’s ability to continue as a going concern.
Founded as a clean-energy play, the company reached a deal in May 2011 instead to acquire a subsidiary of Immunovative Therapies Ltd., an Israeli biopharmaceutical company that since 2004 has been developing immunotherapy drugs that incorporate living immune cells as the active ingredients for treatment of cancer and infectious disease. Last December the companies terminated that deal in favor of a license agreement instead, and Immunovative Inc. adopted its name this past May.
