Replies to post #176852 on Biotech Values

[DewDiligence]

ZLCS PR on reverse merger with Epirus:

http://finance.yahoo.com/news/zalicus-epirus-announce-merger-agreement-110000166.html

Zalicus Inc. (Nasdaq Capital Market: ZLCS) and Epirus Biopharmaceuticals, Inc., a Boston-based biopharmaceutical company focused on the global development and commercialization of biosimilar monoclonal antibodies, announced today that they have entered into a definitive agreement under which Epirus will merge with a wholly-owned subsidiary of Zalicus in an all-stock transaction. Following closing, Zalicus will be re-named Epirus Biopharmaceuticals, Inc., and will operate under the leadership of the Epirus management team…

The merger will create a Nasdaq-listed, publicly traded company focused on building a global biosimilar enterprise to improve patient access to important medicines. Epirus is currently developing a pipeline of biosimilars, including BOW015, a biosimilar to Remicade, BOW050, a biosimilar to Humira, and BOW030 a biosimilar to Avastin.

This is a full-fledged reverse merger in which Epirus is acquiring ZLCS’ Nasdaq listing as an alternative to an IPO. After the merger, existing ZLCS shareholders will own 14-19% of the new company, depending on ZLCS’ cash balance at the time of the closing. (ZLCS’ non-financial assets other than its Nasdaq listing are essentially being valued at nil.)

Eprius’ business model is to develop mAb FoBs for emerging markets (#msg-91531661). See #msg-95745192 and #msg-91507828 for related info.

[DewDiligence]

The ZLCS-Epirus CC lasted only 11 minutes and had zero participants on the Q&A! If nothing else, this makes it likely that the company emerging from this transaction will remain under Wall Street’s radar screen for some time.