Phytopharm neurology news

Phytopharm said it signed heads of terms to acquire an undisclosed, revenue-generating, private UK-based company in the healthcare sector. The biotech said it would issue new Phytopharm shares to the company's shareholders and that the proposed acquisition constitutes a reverse takeover under UK Listing Rules. Phytopharm also said that its listed shares on the main market of the London Stock Exchange have been suspended and that it plans to delist from the main market and seek admission on AIM pending shareholder approval of the acquisition. Phytopharm said heads of terms is similar to a term sheet. ...