On April 15, 2016 OSE Pharma (ISIN : FR0012127173 ; Mnemo : OSE), an immuno-oncology company with a specific immunotherapy activating T lymphocytes, currently in a registration Phase 3 study, and Effimune, a biotech company specialized in immune regulation with clinical applications in autoimmunity, transplantation and immune-oncology, reported the signing of the Merger Treaty to create OSE Immunotherapeutics, a player in the field of activation and regulation immunotherapy (Press release, OSE Immunotherapeutics, APR 15, 2016, View Source [SID1234519634]). The terms of the merger will be submitted for approval to the shareholders of the two companies during the next General Meetings. Schedule your 30 min Free 1stOncology Demo! The Merger Treaty, signed following announcement of the merger project on February 24, 2016, confirms the terms of the proposed transaction. The merger will be submitted for approval to the shareholders during both companies’ General Meetings which will be convened o n May 30, 2016 for Effimune and on May 31, 2016 for OSE Pharma.
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After completion of the merger, the shareholders of OSE Pharma will hold approximately 71% of the capital of the merged entity and the shareholders of Effimune will own approximately 29%. The agreement will take the form of a merger by OSE Pharma of Effimune at the end of which the shareholders of Effimune will receive 1.93 newly issued share s of OSE Pharma (corresp onding to an issuing of approximately 4 million OSE Pharma new shares) in exchange for each 1 held share of Effimune.
To reflect the change in company profile brought by the merger, it is expected that OSE Pharma will be renamed "OSE Immunotherapeutics", and the headquarters will be transferred from Paris (France) to Nantes (France), reflecting Effimune ’s strong academic establishment.
A Merger Prospectus (Document E) registered by the "Autorité des Marchés Financiers" (French stock exchange market regula tor) and other detail ed information regarding the characteristics and terms of the merger will be soon provided to the shareholders of OSE Pharma and Effimune, according to the legal and regulatory provisions. Any decision to join in the merger must be based on the full documentation regarding this intended merger, especially on the Merger Treaty posted this day on the website of the two companies, and on the Merger Prospectus which will be registered (Document E) by the "Autorité des Marchés Financiers" and published before the Extraordinary General Meetings of the two companies.