Genesis Research to merge with Australia's Mariposa Health
Genesis Research is to merge with Australian phamaceutical development company Mariposa in a deal worth about $6.8 million.
Genesis Research is to merge with Australian phamaceutical development company Mariposa in a deal worth about $6.8 million.
Genesis chief executive Stephen Hall says the company had been reviewing a number of investment opportunities but chose Mariposa as it has a well-developed lead product and other projects that can progress into human clinical trials in the near future.
That lead product is TA-270 which is being developed as a tablet formulation for the treatment of chronic obstructive lung disease (COPD) and neutrophilic asthma.
Genesis will issue about 200 million shares – they are currently worth 3.4c each on NZX - to fund the acquisition of Meriposa and will then issue further shares to raise funding for the product development programme by issuing further shares.
Founded in 1994, Genesis is a New Zealand-based biotechnology company. It has established Solirna Biosciences Ltd which is focusing on developing a novel single stranded gene silencing technology using the RNAi mechanism. Genesis also holds an equity interest in Real Time Genomics Inc. and has royalty rights resulting from previous collaborations for various products that are being
NBR staff
Thu, 12 Jan 2012
Thu, 12 Jan 2012
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Genesis Research to merge with Australia's Mariposa Health
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