Syros acquires TYME and announces $130 million private placement
Gene expression company Syros Pharmaceuticals (Nasdaq: SYRS) is to acquire TYME Technologies (Nasdaq: TYME) in a deal that values the oncology-focused biotech at around $60 million.
The combined company will trade on Nasdaq under the ticker symbol ‘SYRS’ and will be led by Syros’ existing management team. It will remain focused on advancing Syros’ pipeline of small molecule medicines for the treatment of cancer.
"These transactions will bring us the necessary capital to advance our late-stage clinical programs toward commercialization"Concurrent with the merger, Syros announced an oversubscribed $130 million private investment in public equity (PIPE) financing.
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