BioAlliance Pharma and Topotarget shareholders approve proposed cross-border merger to create Onxeo
BioAlliance Pharma SA (Euronext Paris - BIO), an innovative company specializing in the development of drugs for orphan oncology diseases, and Topotarget A/S (NASDAQ OMX - TOPO), a Danish based biopharmaceutical company focusing on late-stage clinical development for orphan oncology, today announce that the shareholders of both companies have approved all resolutions with more than 99% voting in favor of the proposed cross-border merger between BioAlliance Pharma SA and Topotarget A/S on 27 June 2014 and 30 June 2014.
The combined entity aims to become a leading orphan oncology company and will be renamed Onxeo upon completion of the merger.
With a portfolio of advanced programs targeting severe orphan oncology diseases for which there is an unmet medical need, Onxeo will offer increased market attractiveness, notably towards specialized international investors, using its scale and significant footprint as a biotechnology leader with a growing portfolio of high value-added products.
The shareholders also approved the appointment of Orfacare Consulting GmbH, represented by Mr. Bo Jesper Hansen, and of Mr. Per Samuelsson, of Healthcap, as board members of Onxeo, effective as of the completion of the merger. As previously announced, Judith Greciet will be the CEO of Onxeo and Patrick Langlois the Chairman of the Board of Directors.
Following approval of the merger by the companies’ shareholders, the completion of the merger is now subject to registration by the relevant French and Danish authorities, which is expected to occur in the course of July 2014.
The expected last day of trading of TopoTarget on NASDAQ OMX Copenhagen and expected first day of trading of BioAlliance (renamed Onxeo) on NASDAQ OMX Copenhagen will be announced in due course.