M&As this week: LGC, Akseera Pharma, Wayland Group

30th November 2018 (Last Updated August 12th, 2019 10:38)

LGC aims to bolster its position in the clinical quality control tools market with its acquisition of SeraCare Life Sciences.

LGC aims to bolster its position in the clinical quality control tools market with its acquisition of SeraCare Life Sciences.

The deal will add SeraCare’s Seraseq clinical genomics tools to LGC’s component offerings, which include oligonucleotides, molecular biology enzymes, and magnetic beads.

LGC is a British analytical services provider, while SeraCare Life Sciences is a health diagnostics company based in the US.

Akseera Pharma has entered an agreement with Vanity Capital for a reverse takeover proposal.

Akseera will combine its operations with a wholly-owned subsidiary of Vanity Capital under the agreement.

Shareholders of Akseera will receive two shares of the company formed after the merger for each share held.

Upon closure of the transaction, shareholders will also receive an additional 50,000 stock options exercisable for one common share priced at $1 a share of the new company.

Vanity Capital will also finance between $2m and $5m by issuing common shares priced at $1 a share. The proceeds will be used for further research, development, and marketing of the products.

The companies will negotiate and enter an agreement for the proposed transaction on or before 31 December 2018.

"Axe Exploration shareholders have voted in favour of acquiring Terranueva Pharma."

Both based in Canada, Akseera Pharma is a pharmaceutical company and Vanity Capital is a former junior mining exploration firm.

Coeptis Pharma has entered an agreement to acquire Elto Pharma.

The acquisition will add Elto’s key investigational drug, eltoprazine, to Coeptis’ pipeline.

Eltoprazine is being developed for the treatment of Parkinson's disease and is currently undergoing testing in Phase II trials.

Coeptis Pharma is a biopharmaceutical company, while Elto Pharma is a joint venture firm of Amarantus Bioscience and Psychogenics. Both companies are based in the US.

Axe Exploration shareholders have voted in favour of acquiring Terranueva Pharma.

Terranueva Pharma will be renamed as Corporation Terranueva or Terranueva Corporation upon completion of the transaction.

Axe Exploration has raised the minimum financing of $2.25m required for the transaction.

Both based in Canada, Axe Exploration is an exploration business, while Terranueva Pharmais is a drug development company.

Wayland Group has signed an agreement to purchase 51% interest in Theros Pharma.

Wayland will make an initial payment of £3.8m ($4.87m) to Theros, followed by another payment of £24m ($30.77m) upon achieving certain milestones.

The milestone will also include license for Theros for cannabis cultivation or medical cannabis import for use in the UK.

Payments will be made by issuing Wayland’s common shares based on the existing market prices, with $1.65 a share as the floor issue price.

The transaction will provide Wayland with access to the UK market and help strengthen its global strategy.

Wayland Group is a Canadian cannabis cultivator and processor, while Theros Pharma is a biopharmaceutical company based in the UK.