Biotech Values

[DewDiligence]

Sellas Life Sciences reverse merges into GALE:

https://finance.yahoo.com/news/galena-biopharma-enters-merger-agreement-100000305.html

Galena Biopharma, Inc. (GALE) and SELLAS Life Sciences Group Ltd, a privately-held, oncology-focused, clinical stage biopharmaceutical company, today jointly announced they have entered into an all stock definitive merger agreement under which SELLAS will merge into and become an indirect, wholly-owned subsidiary of Galena. The combined company will be renamed SELLAS Life Science Group, Inc. The merger will result in a combined company focused on the development of novel treatments for cancer.

…On a pro forma basis…Galena stock and warrant holders are expected to own approximately 32.5%, and SELLAS shareholders will own approximately 67.5% of the combined company.

…Upon closing of the transaction, the name of the combined company will become SELLAS Life Sciences Group, Inc. and shares of the combined are expected to continue trading on the NASDAQ Capital Market under a new ticker symbol, SLS.

Sellas has a partnership with ADXS announced in Feb 2017 (#msg-129039283).