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Raptor, TorreyPines combine in reverse merger
30 Jul 2009
Executive Summary
In a stock-for-stock reverse merger, the CNS-focused TorreyPines Therapeutics will combine with Raptor Pharmaceuticals (targeted drug delivery using human engineered proteins). TPT is issuing Raptor shareholders its common stock so that Raptor will hold about 95% of the merged entity and hopefully grab TPT's NASDAQ listing. (TorreyPines plans a reverse stock split to ensure it complies with NASDAQ listing rules.) The new company will operate under the Raptor name at its Novato, CA headquarters, with Raptor's CEO staying on as head of the combined business.
Deal Industry
- Pharmaceuticals
-
Pharmaceuticals
-
Drug Delivery
- Macromolecule
- Site Specific
-
Drug Delivery
-
Biotechnology
- Large Molecule
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Intra-Biotech Deal
- Payment Includes Stock
- Reverse Acquisition
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Raptor, TorreyPines combine in reverse merger
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