Reverse merger will see Achieve Life Science acquired by OncoGenex

6 January 2017

Shares in the USA-based biotech firm OncoGenex Pharmaceuticals (Nasdaq: OGXI) gained more than 50% in pre-market trading, following the announcement of a reverse merger with the privately held pharmaceutical company Achieve Life Science.

The proposed all-stock deal will see Achieve acquired by OncoGenex. Equity holders in the former will own 75% of the new company, the latter 25%.

Following completion of the merger, OncoGenex will be renamed Achieve Life Sciences Inc.

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