EpiCept, Immune Pharmaceuticals deal
The companies announced they will merge in a stock deal. After the deal, which is expected to close next quarter, former EpiCept shareholders will own 22.5% of the combined company, which will be named Immune Pharmaceuticals Inc. The company will have dual headquarters in Herzliya-Pituach and the New York City area and said it will focus on developing antibodies for cancer and inflammatory diseases. Immune's CEO Daniel Teper will become chairman and CEO of the combined company and Immune's CFO Serge Goldner will be EVP and COO. EpiCept's Interim CEO Robert Cook will become CFO, and EpiCept's CMO Stephane Allard will become CMO. The newco's board will consist of not more than six current Immune directors and at least one current EpiCept director. SunTrust Robinson Humphrey was EpiCept's financial advisor, while Roth Capital Partners advised Immune. The companies could not be reached for details. ...