Raptor, TorreyPines Seal Merger Agreement

Raptor and TorreyPines have entered into a merger agreement. As per the deal, the merged company will be named – Raptor and will be headquartered in California.

Under the terms of the agreement, Raptor will be merged with and into a wholly-owned subsidiary of TorreyPines. TorreyPines will issue, and Raptor stockholders will receive shares of TorreyPines common stock.

In connection to that, Raptor stockholders will own approximately 95% and TorreyPines stockholders will own the remaining 5% of the combined company.

The closing of the merger is subject to customary conditions and contingent upon a vote of approval by both TorreyPines’ and Raptor’s stockholders.

The combined entity will be dedicated to addressing unmet medical needs, by developing new or improving existing treatments, through enhanced drug targeting or reformulation of existing therapeutic compounds.