Eiger reverse-merges with Celladon

Eiger Biopharmaceuticals Inc. (San Carlos, Calif.) will acquire Celladon Corp. (NASDAQ:CLDN) through a reverse merger. Eiger President and CEO David Cory will lead the combined company, which will be named Eiger and will trade on NASDAQ.

Celladon shareholders will own 22% of the combined entity, while existing Eiger shareholders will own 45% and new investors will own 33%. A syndicate including new investors HBM Healthcare Investments, RA Capital, Sabby Management, Sphera Global Healthcare, Perceptive Advisors and Monashee Capital Partners, plus existing Eiger investors Vivo Capital and InterWest Partners, has invested the first $6 million of a planned $39.5 million in the combined company. ...