Zeltia restructures and rebrands as PharmaMar, Edison increases valuation

16 November 2015

Spanish pharma company Zeltia has restructured and is now trading as PharmaMar (PHM: MC).

The company has been restructured to become primarily a pharma company ahead of a potential US Initial Public Offering (IPO) in the first half of 2016. The structure was achieved by a reverse merger where the oncology division PharmaMar absorbed the former parent company Zeltia. One PharmaMar share was exchanged for each Zeltia share.

The firm recently was given US and Japanese approval for its anti-cancer drug Yondelis (trabectedin) for soft tissue sarcoma, and Phase III data for Aplidin (plitidepsin) in multiple myeloma is expected in the new year. Investment research firm Edison to raise its valuation slightly to 4.82 euros ($5.17) from 4.65 euros per share, and an overall value of 1.07 billion euros ahead of the Aplidin data which could be a significant catalyst for PharmaMar’s stock.

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.

Try before you buy

Free

7 day trial access

Take a Free Trial

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

Subscribe Now

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