Synageva BioPharma (GEVA)

[mlkrborn]

Trimeris and Synageva BioPharma announce merger agreement in the form of a stock-for-stock merger (TRMS) 2.84 : Synageva BioPharma, a privately held biopharmaceutical co developing therapeutic products for rare disorders, and Trimeris (TRMS), announce that they have entered into a definitive agreement under which Synageva will merge with Trimeris in an all-stock transaction. Upon closing, the combined co will be named Synageva BioPharma, and will operate under the leadership of the Synageva management team with Sanj Patel serving as the President and CEO. TRMS will issue to Synageva stockholders shares of Trimeris common stock such that Synageva stockholders will own ~75% of the combined co's shares outstanding, and Trimeris stockholders will own ~25%. Options and warrants of both Synageva and Trimeris will be assumed by the combined co and become options and warrants to acquire stock of the combined company.