ANI Pharmaceuticals, BioSante deal

ANI and BioSante completed a stock deal under which the companies merged, with former ANI shareholders owning a 57% stake of the combined company and former BioSante shareholders owning the remaining stake. BioSante is the surviving entity. BioSante shareholders will receive a contingent value right (CVR) for every BioSante share held. The CVR is tied to BioSante's LibiGel testosterone product candidate. BioSante said with the merger, the company now has $10 million in cash and no debt. Dentons provided legal counsel for ANI (see BioCentury, Oct. 15, 2012; March 25, 2013; & April 22, 2013) ...