Texas Biotech deal

TXB completed its previously announced acquisition of ImmunoPharmaceutics Inc., a developer of orally active small molecules through rational drug design. TXB will pay ImmunoPharmaceutics 1.6 million TXB shares upon completion and an additional 2.4 million TXB shares contingent on ImmunoPharmaceutics achieving certain development milestones. TXB has 12.5 million shares outstanding prior to the deal.

Both companies are targeting cardiovascular disease and inflammation. ...