BioCryst Pharmaceuticals, Presidio Pharmaceuticals to Merge

BioCryst Pharmaceuticals

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