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BioCryst Pharmaceuticals stockholders fail approve Idera Pharmaceuticals merger deal.

M2 PHARMA-July 11, 2018-BioCryst Pharmaceuticals stockholders fail approve Idera Pharmaceuticals merger deal

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United States-based BioCryst Pharmaceuticals has failed to receive approval from the stockholders for its merger deal with United States-based Idera Pharmaceuticals, it is reported today.

Idera Pharmaceuticals however stated that the majority of its stockholders voted in favour of the adoption of the merger agreement with BioCryst. BioCryst will pay USD6m as transaction-related expenses to Idera, according to the terms of the merger agreement.

In January this year, BioCryst signed a merger agreement with Idera to establish a new entity focused on the development and commercialisation of medicines for the treatment of patients with rare diseases. According to the contract, BioCryst agreed to own 51.6% of the combined firm's stock, while Idera agreed to own the remaining 48.4 percent in the integrated company.

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Publication:M2 Pharma
Date:Jul 11, 2018
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