MabVax Therapeutics On The Block, Seeks Buyer

San Diego-based drug development company MabVax Therapeutics announced this morning that its board has authorized the company to explore "strategic alternatives", and will engage an independent, financial advisory firm to assist in "exploring and evaluating strategic options with the goal of maximizing shareholder value." MabVax is in the midst of developing treatments aimed at pancreatic, colon and lung cancers. The company said it is considering either the sale of the company, or sale or divestiture of specific assets, merging with another company, licensing of selected technologies or a combination of selected divestitures followed by a reverse merger.