12:00 AM
Aug 05, 2013
 |  BC Week In Review  |  Company News  |  Deals

PharmAthene, Theraclone deal

Biodefense company PharmAthene and antibody company Theraclone will merge in a stock deal, which is expected to close next quarter. PharmAthene will be the surviving entity. Theraclone will own 50% of the surviving entity. Theraclone's CEO Clifford Stocks will become president and CEO of the entity, and PharmAthene's CEO Eric Richman will become a director. Both of the company's boards approved the merger, which is subject to shareholder approval. The companies declined to provide Theraclone's valuation. PharmAthene had $12.9 million in cash as of March 30 and an operating loss of $6.3 million in 2012. Leerink Swann was financial advisor to PharmAthene. Healthios Capital Markets was financial advisor to Theraclone.

The combined company's pipeline will include...

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