Cortexyme, a clinical-stage biopharmaceutical company, is purchasing Novosteo, a biotech company.

The transaction expands Cortexyme’s drug development pipeline into rare disease indications.

David Lamond, chairman of Cortexyme’s Board of Directors, said, “The acquisition of Novosteo adds a highly promising set of assets and meaningfully expands the breadth of our management team. We continue to review additional strategic actions that may opportunistically build upon our growing rare and degenerative disease focus. On behalf of Cortexyme’s Board, I would like to thank Chris Lowe for his leadership as interim CEO and guiding us through this acquisition.”