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news.Synageva BioPharma has entered into a merger agreement with Trimeris, under which Synageva will merge with Trimeris in an all-stock transaction.
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Upon completion of the merger, Trimeris will issue to Synageva stockholders shares of Trimeris common stock such that Synageva stockholders will own 75% of the combined company’s shares and Trimeris stockholders will own 25%.
The combined company will be named as Synageva BioPharma and will operate under the leadership of the Synageva management team with president and CEO Sanj Patel.
The merger creates a company focused on the development of novel therapeutics for patients with rare diseases.
Synageva BioPharma president and CEO Sanj Patel said the strategic combination of their two companies will allow Synageva to continue to advance their lead clinical program, SBC-102, an enzyme replacement therapy for LAL Deficiency.
SBC-102 is a recombinant human lysosomal acid lipase with the same amino acid sequence as the human lysosomal acid lipase enzyme which is responsible for the breakdown of cholesteryl esters and triglycerides.
Trimeris CEO Martin Mattingly said the combined company will have a clinical stage asset with ownership of commercial rights, a portfolio of additional rare disease programs, substantial financial resources and a management team with prior experience in successfully bringing rare disease products to market.