Epirus to acquire Zalicus, creating a publicly-traded biosimilars enterprise

Boston-based privately-held Epirus Biopharmaceuticals, focused on the global development and commercialization of biosimilar monoclonal antibodies, plans to acquire Zalicus (Nasdaq: ZLCS) in an all-stock merger transaction.

Following closing, Zalicus will be re-named Epirus Biopharmaceuticals, and will operate under the leadership of the Epirus management team with Amit Munshi serving as the president and chief executive. In addition, Mark Corrigan will serve as chairman of the company’s board of directors, which will have representatives from both the existing Epirus and Zalicus boards.

The merger is subject to customary closing conditions, including approval of the stockholders of Zalicus and Epirus. The boards of both companies have unanimously approved the transaction and recommended that their stockholders vote in favor of the transaction. The merger is currently expected to close during the summer of 2014.