Biotech Values

[DewDiligence]

CLTX reverse merges with Volution Immuno Pharmaceuticals:

http://finance.yahoo.com/news/celsus-therapeutics-volution-immuno-pharmaceuticals-111500960.html

The combined company will focus on development and commercialization of life-transforming treatments for a range of rare and orphan autoimmune and inflammatory diseases caused by dysregulation of complement C5, including paroxysmal nocturnal hemoglobinuria (PNH) and atypical Hemolytic Uremic Syndrome (aHUS). Upon closing of the transaction, Celsus expects to be renamed Akari Therapeutics Plc.

…current Celsus securityholders will own approximately 8.32% of the combined company and current Volution Immuno Pharmaceutical SA securityholders will own approximately 91.68% of the combined company on a fully diluted basis. The transaction has been approved by the Board of Directors of both companies and by RPC Pharma, the sole shareholder of Volution Immuno Pharmaceutical SA. The transaction is expected to close in the third quarter of 2015…

In other words, CLTX (which is close to being insolvent) is contributing essentially nothing to the merged company other than its public listing.