Thursday, March 5, 2015

Biotech Investing: Targacept (TRGT) Announces Merger

I just wrote last month about my position in Targacept and the possibility of a merger.  It was just announced 15 minutes ago that they will merge with privately held Catalyst Biosciences.  Catalyst currently has a partnership with Pfizer for its lead compound, PF-05280602.  Targacept will own 35% of the newly formed company and received a cash distribution.

Targacept and Catalyst Biosciences Enter Definitive Merger Agreement Creating a Protease-Based Hemostasis and Anti-Complement Company

Merger combines Catalyst’s protease therapeutics pipeline and the financial resources of both companies
Creates a well-funded company to develop important new treatment options for patients with bleeding disorders and complement-mediated diseases

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