US-based ContraVir Pharmaceuticals will issue shares of its common stock and warrants to purchase shares in order to raise funds required for its research and development (R&D), clinical trials and working capital and other general corporate purposes.
Warrants as part of the underwritten public offering will be issued separately.
The company also intends to utilise part of the funds to acquire other companies, products or technologies.
Israeli-based biopharmaceutical company UroGen Pharmaceuticals has announced an initial public offering (IPO) of shares of its common stock to raise funds required for its ongoing clinical trials and development, working capital and other general corporate purposes.
The IPO includes an offer of 3.4 million shares priced between $12 and $14 each to raise up to $48.46m in gross proceeds.
Underwriters have a 30-day option to purchase an additional 519,230 shares in case of any over-allotment.
The company also plans to invest part of the proceeds in depository institutions.
German healthcare company Fresenius has reached an agreement with Merck to acquire the latter’s biosimilars business located in Aubonne and Vevey in Canton de Vaud, Switzerland.
The purchase consideration for the transaction is €670m ($718.35m), which includes €170m ($182.27m) in an upfront cash payment and the remaining to be paid based on the achievement of development targets.
Merck’s biosimilars unit is developing a portfolio of biosimilars for oncology and inflammatory disorders.
The transaction is expected to be completed by June.