Definitive merger plan between BioAlliance Pharma and Topotarget
French orphan drug developer BioAlliance Pharma (Euronext Paris: BIO) and Denmark’s Topotarget (Nasdaq OMX - TOPO) have confirmed details of their previously-announced merger plan (The Pharma Letter April 16), with the combined company, to be called Onxeo, aiming to become a global leader in orphan oncology.
The plan signed yesterday confirmed the terms of the merger agreement announced in April, whereby the continuing entity will be BioAlliance Pharma and the exchange ratio of 2 newly issued shares in BioAlliance Pharma for every 27 Topotarget shares held, resulting in shareholders of BioAlliance Pharma holding around two-thirds and existing Topotarget shareholders one-third of BioAlliance Pharma, of the combined company to be named Onxeo.
Shareholders are to vote at extraordinary general meetings on June 27 for Topotarget and June 30 for BioAlliance Pharma
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