USA-based Celsus Therapeutics (Nasdaq: CLTX) has reached agreement to acquire privately held Swiss biotech firm Volution Immuno Pharmaceuticals in an all-stock transaction. The news pushed Celsus’ share up 19.15% to $0.56 at 10am EDT
The combined company will focus on development and commercialization of life-transforming treatments for a range of rare and orphan autoimmune and inflammatory diseases caused by dysregulation of complement C5, including paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS). On closing of the transaction, Celsus expects to be renamed Akari Therapeutics Plc.
Details of the proposed transaction
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