Biotech consolidation continues as Nasdaq-listed Erytech merges with phage therapy developer

Just shy of two decades, the name of Erytech Pharma — and its mission of using red blood cells to deliver drugs for rare cancers and orphan diseases — will soon become biotech history.

The company has been searching for strategic alternatives since its lead drug flunked a Phase III pancreatic cancer trial in 2021. And it finally found the perfect match in fellow French drugmaker Pherecydes, which is focused on developing treatments against resistant bacterial infections.