We've updated our Privacy Policy to make it clearer how we use your personal data.

We use cookies to provide you with a better experience. You can read our Cookie Policy here.

Advertisement
Pharmexa and Affitech to Combine Operations to Create a New Antibody Therapeutics Company
News

Pharmexa and Affitech to Combine Operations to Create a New Antibody Therapeutics Company

Pharmexa and Affitech to Combine Operations to Create a New Antibody Therapeutics Company
News

Pharmexa and Affitech to Combine Operations to Create a New Antibody Therapeutics Company

Read time:
 

Want a FREE PDF version of This News Story?

Complete the form below and we will email you a PDF version of "Pharmexa and Affitech to Combine Operations to Create a New Antibody Therapeutics Company"

First Name*
Last Name*
Email Address*
Country*
Company Type*
Job Function*
Would you like to receive further email communication from Technology Networks?

Technology Networks Ltd. needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy

Pharmexa A/S and Affitech AS announced that they have entered into a conditional agreement to merge the two companies by means of a share for share acquisition by Pharmexa A/S of the private Norwegian company, Affitech AS.

The purpose of the merger is to transform Pharmexa from a cancer and infectious disease vaccine business into a company focused on the research and development of human antibody therapeutic drugs.

Under the terms of the merger agreement, Pharmexa will offer to acquire 100% of the outstanding and issued share capital of Affitech AS in exchange for newly issued shares in Pharmexa. On completion of the transaction, Affitech shareholders will own approximately 70% and Pharmexa shareholders 30% of the merged Company.

The combined Company will be renamed Affitech A/S and it is the aim to continue the Company's listing on the Nasdaq OMX exchange in Copenhagen. The existing Affitech drug discovery business in Oslo will be renamed Affitech Research AS.

As part of the merger certain Affitech shareholders will undertake to participate in a new share issue which Pharmexa expects to take place during Q2 or Q3 2009.

The acquisition of Affitech by Pharmexa is intended to create a new European biopharmaceutical company listed on the Nasdaq OMX Copenhagen exchange dedicated to the discovery and development of human antibody therapeutics in cancer and other diseases of unmet medical need.

The integration of the two companies marks a transformational event by combining the antibody discovery expertise and early product pipeline of Affitech with the drug development capabilities, processes and infrastructure of Pharmexa. The combined Company will focus its activities entirely in the field of human antibody therapeutics.
Advertisement