Biotech Values

[DewDiligence]

NVLS reverse merges into Alpine Immune Sciences, a private company led by Mitchell Gold, former CEO of Dendreon:

http://finance.yahoo.com/news/nivalis-therapeutics-inc-alpine-immune-200500201.html

Nivalis Therapeutics, Inc. (NVLS) and Alpine Immune Sciences, Inc., a privately-held biotechnology company developing novel therapies using its next-generation immune system modulation platform, today jointly announced they have entered into a definitive merger agreement under which Alpine will merge with a wholly-owned subsidiary of Nivalis in an all-stock transaction. The merger will result in a combined company with a novel protein-based discovery platform focused on inflammation and immuno-oncology.

…Following the merger, current Alpine shareholders will own approximately 74 percent of the combined company and current Nivalis shareholders will own approximately 26 percent of the combined company… The combined company is expected to have approximately $90 million in cash and cash equivalents at the closing of the transaction.

…Mitchell H. Gold, M.D., Alpine’s Executive Chairman and Chief Executive Officer, will become the Chairman and Chief Executive Officer of the combined company.

Upon closing of the transaction, the name of the combined company will become Alpine Immune Sciences, Inc. and shares of the combined company’s common stock will trade on the NASDAQ Global Market [presumably under a new ticker symbol].

CC at 4:30pm ET.