Sign up USA
Proactive Investors - Run By Investors For Investors

BioCryst Pharmaceuticals and Idera to merge and advance clinical programmes

Together the companies will have two Phase 3 and two Phase 2 drug candidates, and it was highlighted that there would be several important catalysts in 2018.
deal, business men handshake
BioCryst’s current stockholders will have 51.6%

BioCryst Pharmaceuticals Inc (NASDAQ:BCRX) and Idera Pharmaceuticals Inc (NASDAQ:IDRA) are set to merge with the newly expanded company aiming to “serve more patients with rare diseases”.

Once the deal completes, BioCryst’s current stockholders will have 51.6% of the new company, with Idera’s owners holding the other 48.4%.

Several important catalysts in 2018

It is expected that the group will have US$243mln of net cash, with opportunities to add further non-dilutive capital to fund clinical developments.

Together the companies will have two Phase 3 and two Phase 2 drug candidates, and it was highlighted that there would be several important catalysts in 2018.

"Both of our companies have aspired to become successful providers of therapeutics for patients suffering from rare life-threatening diseases,” said Vincent Milano, Idera chief executive and future chief executive of the new company.

“Both share a culture that puts patients first and keeps their interests at the very core of what we do, and how we do it."

"By merging our unique talents, experiences and assets, we instantly strengthen our ability to become a significant force for patients suffering from a broad range of rare diseases.  We will also gain operational synergies and strengthen our financial position."

New company to grow faster

Jon Stonehouse, BioCryst chief executive officer, meanwhile, added: “Bringing these two companies together accelerates the strategic initiatives of both organizations and immediately forms a substantial and differentiated biotech company serving patients in the rare disease community."

"Combining our respective pipelines, infrastructures and financial resources should enable the new company to grow faster, deliver for patients more rapidly and ultimately create sustainable shareholder value well beyond what either would achieve separately."

In premarket deals, Idera shares dropped 8.6% to trade at 2.55p while BioCryst was up 3.6% to 5.59p.

View full BCRX profile View Profile

BioCryst Pharmaceuticals Timeline

Newswire
February 08 2016
Newswire
December 07 2012

Related Articles

Cancer cells
June 27 2018
The Nottingham-based privately-owned company has made an impressive fist of developing the OMIS (Opto-magnetic Imaging Spectroscopy) cancer detection system
scientist in lab
August 31 2018
While the data bodes well for MTD201, Midatech is most excited by the validation of its Q-Sphera sustained release technology, which it is using in some of its other compounds
picture of cannabis plants
March 23 2018
Control of the supply chain offers operational advantages and financial benefits.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use