M&As this week: Signal Genetics, Celldex Therapeutics

US-based molecular diagnostic company Signal Genetics is set to merge with clinical-stage biopharmaceutical company miRagen Therapeutics, with the boards of directors of both companies having unanimously approved the merger that will create a clinical-stage biopharmaceutical company.

Mirage’s shareholders will hold roughly 96% of Signal’s outstanding common stock on a fully diluted basis and Signal’s name will be changed to MiRagen, Inc.

The merged company is expected to have a cash balance of $50m and will focus on developing proprietary micro RNA-targeted therapeutics.

Connemara Merger Sub 1 and Connemara Merger Sub 2, the subsidiaries of US-based biopharmaceutical company Celldex Therapeutics, have signed an agreement to acquire Kolltan Pharmaceuticals in a stock-for-stock transaction.

Following the acquisition, which is estimated to cost up to $235m, clinical-stage biopharmaceutical company Kolltan Pharmaceuticals will become a wholly owned subsidiary of Celldex Therapeutics.

Celldex Therapeutics aims to expand its antibody and immuno-oncology portfolio through the acquisition.