BioAlliance Pharma and Topotarget merge to create leader in orphan oncology diseases

16 April 2014

French orphan drug developer BioAlliance Pharma (Euronext Paris: BIO) and Denmark’s Topotarget (Nasdaq OMX - TOPO) today announced their intention to merge to create a leading orphan oncology company with a highly complementary pipelines of late-stage products addressing significant unmet medical needs.

The merger agreement has been unanimously approved by the boards of directors of both companies. Shares in Topotarget closed Tuesday at 3.01 Danish kroner, valuing the company at 431.4 million kroner ($79.9 million). The transaction is expected to be completed in July or August.

In early trading today, BioAlliance rose 3.6% to 7.42 euros in Paris, while Topotarget gained 21% to 3.65 kroner in Copenhagen.

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