Corporate Activity — Mergers and Acquisitions
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Impending mergers and acquisitions
Australian drug development company Alchemia has gained >90% of Meditech and will proceed to compulsory acquisition. Alchemia is a drug discovery company with a novel carbohydrate platform technology focused on the development of a generic synthetic heparin and on discovering a pipeline of products for oncology, eye disease, antibiotic and pain treatment. The company has a website at www.alchemia.com.au.
Private biopharmaceutical companies Athenagen of South San Francisco, CA, and Zapaqof Oklahoma City, OK, have signed a letter of intent to merge. The companies both have leading programs focused on neurological diseases, including several proprietary compounds targeting Alzheimer disease. The merger is expected to be completed in Q3. Athenagen is developing small-molecule drugs that act on the nicotinic acetylcholine (nACh) receptor pathway based on technology licensed from Stanford. It currently has three product development programs acting on this...