Alpine, Nivalis deal

Immunology company Alpine will reverse-merge cystic fibrosis play Nivalis in a stock deal. The combined entity will retain Alpine’s name and will trade on NASDAQ under a new ticker. Alpine’s current CEO, Mitchell Gold, will become CEO of the combined company. Gold, who was CEO of Dendreon Corp., said that Alpine pursued the deal to gain access to public capital, and will not prioritize development of Nivalis' candidates.Existing Alpine shareholders will own 74% of the combined company, while Nivalis shareholders will own the remainder.

Frazier Healthcare, Alpine BioVentures and OrbiMed Advisors will invest an additional $17 million in Alpine prior to the merger’s anticipated close in 3Q17...