Market Overview

BioCryst Pharmaceuticals, Presidio Pharmaceuticals to Merge

BioCryst
Pharmaceuticals (NASDAQ: BCRX) and privately held Presidio
Pharmaceuticals today announced that the companies have signed
a definitive merger agreement for Presidio to be acquired by BioCryst in
an all-stock transaction. The transaction has been approved by the
Boards of both companies. The transaction values Presidio at
approximately $101 million, based on yesterday's closing BioCryst share
price of $4.11 per share. The transaction is expected to close in the
first quarter of 2013, and is subject to customary conditions, including
approval by BioCryst shareholders.

The merger creates a focused, clinical stage biopharmaceutical company
with lead programs in high-value infectious and orphan disease

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A Global

 

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