DelMar to acquire Adgero Biopharmaceuticals in all-equity transaction
By Nikita Chaurasia  Date: 2020-06-11

DelMar to acquire Adgero Biopharmaceuticals in all-equity transaction

DelMar Pharmaceuticals, Inc., the American-based biopharmaceutical company focused on the development of novel cancer therapies, has reportedly inked agreement to acquire Adgero Biopharmaceuticals Holdings, Inc. in an all-equity transaction.

Sources cite that Adgero stockholders will get shares of DelMar common stock for shares of Adgero common stock. Following the completion of the deal, the stockholders of DelMar and Adgero will own 50.5 percent and 49.5 percent of the total voting power of the joint company respectively.

Expected to close in the Q3 2020, the deal is subject to stockholder approval of two companies and other closing conditions. Kintara Therapeutics, Inc. will be a new name for the combined company and expected to trade on NASDAQ under new symbol ‘KTRA’

The merger will create a diversified biopharmaceutical company with a vigorous product pipeline targeting unmet medical needs in oncology. The joint company will work on two late-stage, Phase 3-ready cancer treatments – VAL for GBM (glioblastoma multiforme) and REM-001 for CMB (cutaneous metastatic breast cancer). Moreover, the combined company will work on several last-state clinical research over the next 12-18 months.

For the record, Adgero is a biopharmaceutical company focused on developing its late-stage photodynamic therapy platform for treating serious cutaneous oncology indications. The joint company will bring together DelMar's DNA-targeting chemotherapeutic with proven anti-cancer activities with Adgero's last stage photodynamic therapy platform. 

Speaking on which, Saiid Zarrabian, Chief Executive Officer and President of DelMar said that this merger is the result of a widespread search for suitable oncology therapy and offers the combined company with a diversified last-stage oncology pipeline.

John Liatos, Chief Financial Officer and interim Chief Executive Officer of Adgero said that with this deal, the company is looking forward to developing a highly focused oncology company that can develop novel therapies to support patients and physicians where existing treatment options are limited.

Source Credit -https://www.delmarpharma.com/news-media/press-releases/detail/933/delmar-to-acquire-adgero-biopharmaceuticals-expand

About Author

Nikita Chaurasia    

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Top Glove shuts down factories amidst rising COVID-19 cases in Malaysia
Top Glove shuts down factories amidst rising COVID-19 cases in Malaysia
By Nikita Chaurasia

  The company has reportedly ceased its operations after 2453 employees tested positive for the Coronavirus. The company’s shares plummeted by 7.5% after the Malaysian government ordered to shut down 28 of its factories. As per relia...

Belcan becomes software engineering services firm Avista’s new owner
Belcan becomes software engineering services firm Avista’s new owner
By Nikita Chaurasia

Belcan, LLC, a leading supplier of engineering, technical recruiting, supply chain, and information technology (IT) services to various sectors, reportedly announced the acquisition of Avista, Inc., a safety-critical and mission-critical software eng...

Swisscom to install Nokia FastMile 5G Receivers in Switzerland
Swisscom to install Nokia FastMile 5G Receivers in Switzerland
By Nikita Chaurasia

Nokia, the leading Finnish telecommunications giant, has reportedly announced that Swisscom, a renowned Swiss telecommunications firm, would install Nokia FastMile 5G Receivers across rural areas of Switzerland to provide high speed broadband service...

CDC funds $1.5 Mn for co-robots; aims to reduce worker exposure
CDC funds $1.5 Mn for co-robots; aims to reduce worker exposure
By Nikita Chaurasia

Projects developed through this grant is expected to be used in developing collaborative robots for use in the manufacturing and healthcare industries. With over more than 5000 workers losing their lives due to work-related injury in the United ...

Telia & Ericsson join hands to launch Estonia’s first 5G network
Telia & Ericsson join hands to launch Estonia’s first 5G network
By Nikita Chaurasia

Telia, a Swedish multinational telecommunications company, will be the first one to begin 5G in the country which will be powered by Ericsson 5G technology. With this move, the company will be enabling innovation for businesses and provide high-speed...