IS Pharma, Sinclair deal

IS Pharma and Sinclair said they are in advanced discussions for a potential merger of the biotechs. Under the potential deal terms, IS Pharma shareholders will receive 2.7 Sinclair shares per IS Pharma share. After the merger, Sinclair shareholders would own 62.4% of the combined company, while IS Pharma shareholders would own the remaining 37.6%. The combined company, which would be headquartered in the U.K., will focus on developing therapies for dermatology, cancer, critical care and wound care. The deal is subject to due diligence by both parties and the unanimous recommendation by IS Pharma's board.

Sinclair markets products for wound care and dermatological and oral diseases, including Flammazine and Flammacerium, which are silver sulfadiazine topical creams to treat and prevent infections in burn wounds. Sinclair has rights to Flammazine and Flammacerium from Solvay S.A. (Euronext:SOLB, Brussels, Belgium). Smith & Nephew plc (LSE:SN; NYSE:SNN, London, U.K.) markets the product as Flamazine in the U.K. IS Pharma markets products for cancer, critical care and neurology indications, including Aloxi palonosetron, a selective serotonin (5-HT3) receptor antagonist for chemotherapy-induced nausea and vomiting (CINV). IS Pharma has Irish rights to Aloxi from Helsinn Healthcare S.A. (Pazzallo-Lugano, Switzerland). ...