M&As this week: Biodel, Luraq Investments and Chengdu Huasun

26th May 2016 (Last Updated May 26th, 2016 18:30)

Biodel and Albireo have entered a definitive share exchange agreement for a merger aimed at developing novel bile acid modulators to liver and gastrointestinal diseases and disorders.

Biodel and Albireo have entered a definitive share exchange agreement for a merger aimed at developing novel bile acid modulators to liver and gastrointestinal diseases and disorders.

According to the agreement, Biodel will be merged into Albireo Pharma, following which Biodel stockholders will own approximately 33% and Albireo stockholders will own the remaining 67% of the combined company.

Albireo stockholders will exchange their shares for newly-issued shares of Biodel common stock.

"Albireo stockholders will exchange their shares for newly-issued shares of Biodel common stock."

Luraq Investments Ltd has entered a conditional agreement with Mindar Holdings and Germonta holdings to acquire a 29.29% stake in INDAR ZAO for a sale consideration of $4.9m.

The termination of the agreement will be based on the deterioration of parameters of INDAR ZAO's functioning until 1 June 2016.

Based in Cyprus, Mindar Holdings and Germonta Holdings are both units of Bioton SA, a pharmaceutical company based in Poland.

Chengdu Huasun, a provider of traditional medicines for the treatment of ear-nose-throat diseases, has announced the acquirement of 51% stake in a Sichuan-based pharmaceutical company for a cash consideration.