Telesta Therapeutics Inc. was a publicly traded, Canadian pharmaceutical company based in Montreal, Quebec. It was acquired by ProMetic Life Sciences in 2016.[1]
CEO Michael Berendt; prior to joining Telesta, was the president and CEO of Aegera Therapeutics.
Telesta was listed on the Toronto Stock Exchange under the symbol TST.
History
As part of the strategic push to focus on late stage human therapeutics, effective May 2014, the company divested its Animal Health unit to Vétoquinol, a family-owned, global animal health company led by CEO Matthieu Frechin.
In 2014, a court decision involving a group of Bioniche shareholders and the Bioniche board of directors established a precedent in the Canadian court system for conditions under which a board may choose not to select the date proposed by shareholders for an annual meeting, but rather schedule on a date of the board's choosing, thus confirming "that directors have wide latitude to manage corporate affairs."
In February 2016, the Biologics License Application of Telestra's main drug, MCNA, was rejected by the FDA.[2]