Caladrius Biosciences and Cend Therapeutics have entered into a definitive merger agreement to form a combined company to be renamed Lisata Therapeutics. The transaction, which is expected to close in the third quarter of 2022, values each company at US$90 M and will result in shareholders of Caladrius and Cend owning approximately 50% of the combined company. Once merged, Lisata will focus on advancing Cend’s CendR Platform™ technology products in a range of solid tumour oncology indications, including pancreatic ductal adenocarcinoma.