Armata Pharmaceuticals, Inc. (ARMP)

[lesgetrich]

Here's the announcement...

AmpliPhi Biosciences Announces Stockholder Approval of Business Combination with C3J Therapeutics

SAN DIEGO, May 8, 2019 – AmpliPhi Biosciences Corporation (NYSE American: APHB) , a clinical-stage biotechnology company focused on precisely targeted bacteriophage therapeutics for antibiotic-resistant infections, today announced that its stockholders voted to approve the proposals required to complete the business combination with C3J Therapeutics at a special meeting of AmpliPhi Biosciences stockholders held earlier today. Approximately 94% of the shares voted at the special stockholder meeting voted in favor of the transaction, with each of the other related proposals also receiving sufficient votes for approval.



“Today’s resoundingly favorable shareholder vote clearly supports our combining of AmpliPhi and C3J Therapeutics to form a leading biopharmaceutical company focused on developing a promising portfolio of natural and synthetic phage therapies to treat serious and life-threatening antibiotic-resistant infections,” said Paul C. Grint, M.D., CEO of AmpliPhi Biosciences. “The Board and management team have worked diligently for this result, which we believe is the best outcome for our shareholders, and I want to thank our shareholders for their support. I look forward to transitioning to the leadership of C3J’s Chief Executive Officer, Todd R. Patrick, and the team of experienced executives that will lead further development of these important drug candidates.”



As previously announced, the Boards of Directors of both AmpliPhi and C3J unanimously approved the business combination in January 2019. The Board of Directors of AmpliPhi has also determined that the previously announced reverse stock split, which is expected to be completed immediately prior to the consummation of the business combination, will be effected at a ratio of 1-for-14. The business combination transaction is expected to close on Thursday, May 9th, at which time AmpliPhi and C3J will become Armata Pharmaceuticals, Inc. The shares of the combined company are expected to commence trading on the New York Stock Exchange under the symbol “ARMP” on Friday, May 10, 2019.

... For background, see the following...

AmpliPhi Biosciences Corp. (APHB) CEO Paul Grint on C3J Therapeutics Merger Conference Call (Transcript) - Jan. 14, 2019 7:07 PM ET

I want to highlight a partnership C3J has in place with a U.S. based multinational pharmaceutical company for an undisclosed large market indication. This development program is currently preclinical and we believe it provides an important validation of our synthetic phage technology and strategy. C3J is responsible for the preclinical development and under our current agreement we will hand out clinical candidates to our partner who then has the responsibility to take them through the U.S. and international regulatory approvals and onto commercial launch.

We have a variety of preclinical as well as clinical milestone payments along the way in addition to royalties on sales. The partner will assume all clinical, regulatory, production and sales marketing expenses. C3J is responsible for its own R&D expenses. Since C3J is a private company, this partnership has remained confidential. And for the time being, we will not be providing additional information until we work out an acceptable disclosure with our partner. We expect to have more to say on this program in the near future.