NeoPharm completes merger with Insys Therapeutics
US biopharmaceutical firm NeoPharm (Other OTC: NEOL.PK) says it has completed its previously-announced merger with Insys Therapeutics, a privately-held Phoenix, Arizona-based pharmaceutical company.
Under the terms of the merger agreement NeoPharm issued about 19.5 million shares of common stock and 14.9 million shares of a newly-created convertible preferred stock to the stockholders of Insys, and a newly formed subsidiary of NeoPharm has been merged into Insys, with Insys surviving as a wholly-owned subsidiary of NeoPharm.
The combined company creates a near-term commercial organization with a pipeline focused in the pain and oncology space. The company intends to prioritize the combined portfolio of product candidates and focus on taking LEP-ETU, a liposomal formulation of the widely used cancer drug paclitaxel, into Phase III, while it works towards its New Drug Application submission of the fentanyl sublingual spray. The anticipated filing date is slated for the first quarter of 2011.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze