Reverse merger best way forward for InDex after clinical failure
Following a review of its strategic options, Swedish immunology company InDex Pharmaceuticals (STO: INDEX) has opted for a reverse merger with Stockholm-based Flerie Invest.
Established by the co-founder of global contract development and manufacturing organization (CDMO) Recipharm, Flerie focuses on investing in innovative companies within the biotech, pharmaceutical, and healthcare sectors.
The deal values Flerie at $281 million, while InDex is valued at $25 million. As part of the deal, around $49 million in new money will be raised from a consortium of investors.
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