The merger, first announced in early December 2005, creates a late-stage company with two clinical stage compounds and a robust pipeline of preclinical candidates.
In connection with the transaction, ActivBiotics has issued to Metaphore stockholders shares of ActivBiotics stock.
“With our combined financial resources, a recently initiated phase III antibacterial program for treating peripheral arterial disease, and a rich pipeline of earlier stage product opportunities, we believe the combined company is well positioned,” commented ActivBiotics president and CEO, Dr Steve Gilman, when the agreement was first announced.
ActivBiotics is a private biopharmaceutical company located in Lexington, Massachusets, focused on the discovery, development and commercialization of antibacterials for high-value chronic and infectious disease markets.
The company’s lead product candidate, rifalazil, is being studied in a pivotal study in patients with intermittent claudication, a manifestation of lower extremity arterial disease.