Synthemed, Pathfinder deal
Pathfinder will reverse-merge with biomaterials company SyntheMed in a stock deal. Pathfinder shareholders will own about 80% of the combined company, which will be known as Pathfinder Cell Therapy Inc. and headquartered in Cambridge, Mass., with SyntheMed shareholders owning the remaining 20%. SyntheMed is valued at $3.3 million based on its close of $0.03 on Dec. 22, 2010, before the deal was announced, and 110.1 million shares at Sept. 30, 2010. The combined company will use Pathfinder's Pathfinder Cell isolation technology to develop cell-based therapies to treat diabetes, renal disease, myocardial infarction and other diseases characterized by organ-specific cell damage. Pathfinder Cells are mammalian cells that stimulate regeneration of damaged tissues without the cells themselves being incorporated into the new tissue. ...