ARTICLE | Financial News

Genkyotex finds public path via Genticel merger

December 23, 2016 12:19 AM UTC

Genkyotex S.A. (Plan-les-Ouates, Switzerland) and Genticel S.A. (Euronext:GTCL) are merging to form a publicly traded entity that intends to develop Genkyotex's pipeline of NADPH oxidase inhibitors to treat fibrotic diseases.

The Swiss biotech's shareholders will receive about 11.8 Genticel shares for each Genkyotex share, based on valuations of EUR 120 million ($125.6 million) for Genkyotex and EUR 30 million ($31.4 million) for Genticel. The deal is subject to Genticel shareholders' approval in February...