Statera Biopharma explores merger with California life-sciences firm

FORT COLLINS — Statera Biopharma Inc., a struggling clinical-stage biopharmaceutical company, has signed a nonbinding letter of intent to merge with California-based diagnostic testing company Worksite Labs Inc.

Terms of the deal were not disclosed, but Statera said details would be forthcoming when definitive agreements are reached.

“We believe the proposed merger could enhance shareholder value and strengthen the company’s operating performance,” Statera CEO Michael Handley said in a prepared statement. “The business model and mission of Worksite Labs aligns with our current strategies to diagnose and identify patients for treatment and increase shareholder value. “Furthermore, we look forward to working…