Deal Watch: Chinook To Go Public Via Reverse Merger With Troubled Aduro
Focused on precision medicine for renal disease, Chinook gets Aduro’s Nasdaq listing and starting capital of $200m. During a wave of modest-sized M&A deals, Tetra finds buyer, Tetraphase gets competing bids.
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Therapyx and Intravacc are optimizing a candidate gonorrhea vaccine following promising results in primates and the granting of a three-year SBIR award by the US NIAID.
The merger closed in May, so the second quarter earnings report will be the first presentation of the combined company’s performance and outlook.
Merck pays undisclosed upfront fees and promises up to $500m for milestones under licensing and collaboration agreement. Meanwhile, Tetraphase and Xerava are being acquired by La Jolla, after previous bids by Melinta and AcelRx.