Insight journal - Dealtalk, M&A

M&A news: Australia’s Biota, Nabi Pharmaceuticals Plan Merger

Posted on 24 April 2012


Australian drug development company Biota Holdings Ltd. is interested and  plans in a M&A deal with Nabi Biopharmaceuticals .

The execution of the M&A implementation agreement will form a combined company to be named Biota Pharmaceuticals, Inc. Biota Pharmaceuticals will be listed on NASDAQ and headquartered in the United States.

The M&A will provide to Nabi's shareholders the opportunity to participate in the potential growth of the combined company, return of significant cash, as well as a contingent value right providing payment rights arising from future sale, transfer, license or similar transactions involving NicVAX.

Biota's move to the United States is designed to achieve better value recognition and liquidity through a stronger U.S. biotechnology shareholder base.

Following the closing of the M&A, Biota Pharmaceuticals, Inc. will have three royalty generating products, Relenza, Inavir and potentially PhosLyra; two clinical programs, vapendavir (a phase III-ready human rhinovirus program), as well as a US$231 million contract with BARDA for the advanced development, in the US, of laninamivir (a long acting anti-influenza neuraminidase inhibitor).

In addition, the combined company will have an interest in NicVAX and several pre-clinical programs, including respiratory syncytial virus (RSV), hepatitis C (HCV-NN), broad spectrum antibiotic targeting gyrase (GYR), as well as over US$100 million in cash with which to develop its program pipeline.

The M&A and related matters will require approval of the Biota and Nabi shareholders.

Read the full article at Wall Street Journal (link no longer available)



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