Merger targets chunk of inflammatory and autoimmune market
US biotech Vital Therapies (Nasdaq: VTL) and privately-held German firm Immunic Therapeutics are to join forces to focus on advancing the latter’s pipeline of treatments for chronic inflammatory and autoimmune diseases.
The San Diego-based company is expected to acquire all of the outstanding shares in Immunic in exchange for newly-issued shares of Vital Therapies in an all-stock transaction, creating a Nasdaq-listed biopharma called Immunic Inc.
"The proposed transaction will be transformative for Immunic stockholders"
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