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.