Vincerx terminates letter of intent with Global Digital, initiates wind down

Vincerx Pharma (VINC) announced that it has terminated the previously announced non-binding letter of intent with Global Digital Holdings, conducting business as QumulusAI, regarding a potential merger. Following this decision, the company’s board of directors has authorized management to initiate wind-down activities and continue exploring monetization of assets and out-licensing opportunities. “I want to express our deepest gratitude to the investigators, patients, employees, and partners who have supported Vincerx’s mission,” said Raquel Izumi, acting CEO of Vincerx. “Your contributions have meant everything. Although unprecedented, adverse market dynamics prevented us from continuing the development of our programs, numerous patients with cancer-who had few therapeutic options-benefited from our therapies in the Phase 1 trials. For the chance you gave us to help those patients, we thank you.”