Pharmaxis to Acquire Topigen Pharmaceuticals
- Posted on 14 January 2010
Topigen Pharmaceuticals has signed an agreement to be acquired by Pharmaxis. The latter is a publicly-traded Australian pharmaceutical company that is involved in the research, development and commercialization of therapeutic products for chronic respiratory and immune disorders.
The all-stock transaction includes the issuance of 3.2 million shares of Pharmaxis stock on closing with an additional 5.0 million shares to be issued subject to the achievement of milestones specified in the purchase agreement. The transaction is expected to close within the next 60 days.
