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news.ActivBiotics and Metaphore Pharmaceuticals have signed a definitive merger agreement. If the transaction is completed Metaphore will become a wholly owned subsidiary of ActivBiotics.
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The proposed merger is subject to approval of the stockholders of both ActivBiotics and Metaphore and is expected to close by the end of December or early January. US operations will be consolidated in Lexington, Massachusetts, and the combined company will be lead by ActivBiotics president and CEO, Dr Steve Gilman.
“Metaphore brings considerable assets to this transaction, including a novel anti-inflammatory compound that has been safely administered to over 600 people,” Dr Gilman said.
“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”