Merger to create leading rare endocrine disease company

US companies OvaScience (Nasdaq: OVAS) and privately-held Millendo Therapeutics, a University of Michigan, USA, start-up company, have entered into a definitive agreement under which OvaScience will merge with Millendo in an all-stock transaction.

The merged company will focus on advancing Millendo’s pipeline of distinct and transformative treatments for orphan endocrine diseases. Upon shareholder approval, the combined company is expected to operate under the name Millendo Therapeutics and trade on the Nasdaq Capital Market under the ticker symbol MLND.

However, investors already disappointed with troubled OvaScience’s performance, sent the firm’s stock plunging 14.5% to $0.77. Moreover, legal eagles like Levi & Korsinsky tapped into investor discontent saying they would probe whether OvaScience’s sale to Millendo was fair to shareholders, according to Proactiveinvestors USA.