Micrologix, MitoKor deal

MBI will acquire MitoKor for about 5.5 million shares upfront, or C$5.9 million (US$4.5 million) based on MBI's pre-announcement close of C$1.08 on April 14. MBI also will issue about 4 million series E preferred shares valued at up to US$4 million for milestones to MitoKor shareholders.

MitoKor's MITO-4509, a 17-alpha estradiol, has completed Phase I testing to treat Alzheimer's disease (AD). The company's preclinical compounds include MITO-4565 to treat glaucoma and MITO-4042 to treat arthritis. ...