BioAlliance and Topotarget progress merger plan

France-base BioAlliance Pharma (Euronext Paris: BIO) and Denmark’s Topotarget (Nasdaq: OM: TOPO) say that the shareholders of both companies have approved all resolutions with more than 99% voting in favor of the previously-announced proposed cross-border merger between the drugmakers.

The combined entity aims to become a leading orphan oncology company and will be renamed Onxeo upon completion of the merger.With a portfolio of advanced programs targeting severe orphan oncology diseases for which there is an unmet medical need, Onxeo will offer increased market attractiveness, notably towards specialized international investors, using its scale and significant footprint as a biotechnology leader with a growing portfolio of high value-added products, the companies state.

New board members, top executives

The shareholders also approved the appointment of Orfacare Consulting GmbH, represented by Bo Jesper Hansen, andof Per Samuelsson, of Healthcap, as board members of Onxeo, effective as of the completion of the merger. As previously announced, Judith Greciet will be the chief executive of Onxeo and Patrick Langlois the chairman of the board of directors.

Following approval of the merger by the companies' shareholders, completion is now subject to registration by the relevant French and Danish authorities, which is expected to occur in the course of July 2014.The expected last day of trading of Topotarget on Nasdaq OMX Copenhagen and expected first day of trading of BioAlliance (renamed Onxeo) on Nasdaq OMX Copenhagen will be announced in due course.