Biodel has entered an agreement to merge with Albireo Pharma, Inc. to form a combined company whereby the former's shareholders will own 33% and the latter's will own the rest.
The new company will focus on developing novel bile acid modulators to treat orphan paediatric liver diseases, as well as gastrointestinal diseases and disorders.
The merger will be completed through shares exchange, and following this Biodel's name will be changed to Albireo Pharma.
Both the companies involved in the merger are based in the US.
Dirui Industrial has announced that it will acquire 6.6% stake in a biotech company based in Xiamen in order to diversify its business activities.
The transaction will be completed through the acquisition of approximately 2.2m shares of the target company.
Based in Changchun, China, the acquirer company develops diagnostic equipment.
THERAMetrics, a Swiss-based company, has announced plans to sell THERAMetrics Clinical Supply Services, an IMP manufacturing and logistics company.
The company's share holder Fin Posillipo, based in Italy, will purchase the subsidiary. The transaction will enable THERAMetrics to raise funds to provide the additional capital required to sell its four CRO subsidiaries to Accelovance.
The subsidiaries being acquired by Accelovance include THERAMetrics GmbH, THERAMetrics S.p.A., THERAMetrics CRU, S.r.l. and THERAMetrics S.r.l.
Fin Posillipo is based in Italy, whereas Chengdu Huasun has announced that it will acquire 51% stake in a pharmaceutical company based in Sichuan.
China-based Chengdu Huasun provides traditional medicines for the treatment of ear-nose-throat diseases.
Luraq Investments Ltd, an investment firm, has announced to acquire a 29.29% stake in INDAR ZAO from Bioton SA's units Mindar Holdings and Germonta Holdings. The sale consideration of the transaction is $4.9m.
Arbor Pharmaceuticals has announced to acquire outstanding shares of XenoPort for a sale consideration of approximately $467m to expand its neurology product portfolio and develop the sales infrastructure.
The transaction will receive sole committed debt financing from Deutsche Bank AG.
Centerview Partners are acting as the financial advisor and Weil, Gotshal & Manges are acting as legal advisor of the target company, while Alston & Bird and Simpson, Thacher & Bartlett is acting as legal advisor to the acquirer for the transaction.