IS Pharma, Sinclair deal

The boards of both companies agreed to merge and form Sinclair IS Pharma plc. The newco, which will be headquartered in the U.K., will focus on developing therapies for dermatology, cancer, critical care and wound care. IS Pharma shareholders will receive 2.7 new Sinclair shares for each IS Pharma share held. Following the merger, which is expected to close in May subject to shareholder approval, Sinclair shareholders would own 63.3% of the combined company, while IS Pharma shareholders would own the remaining 36.7%. Sinclair Capital Markets advised Sinclair, while finnCap advised IS Pharma (see BioCentury, Feb. 21).

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). ...