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OSE Pharma, Effimune Formalise Creation of OSE Immunotherapeutics.

MANews-(C)2009-2016

18 April 2016 - France-based immuno-oncology company OSE Pharma (ISIN: FR0012127173; Mnemo: OSE) (PAR: OSE) and France-based biotech company Effimune have signed a merger agreement to create OSE Immunotherapeutics, the companies said.

Immunotherapeutics will be in the field of activation and regulation immunotherapy

The terms of the merger will be submitted for approval to the shareholders of the two companies during the next General Meetings, which will be convened on May 30, 2016 for Effimune and on May 31, 2016 for OSE Pharma.

After completion of the merger, the shareholders of OSE Pharma will hold approximately 71% of the capital of the merged entity and the shareholders of Effimune will own approximately 29%.

The agreement will take the form of a merger by OSE Pharma of Effimune at the end of which the shareholders of Effimune will receive 1.93 newly issued shares of OSE Pharma (corresponding to an issuing of approximately 4m OSE Pharma new shares) in exchange for each one held share of Effimune.

To reflect the change in company profile brought by the merger, it is expected that OSE Pharma will be renamed OSE Immunotherapeutics, and the headquarters will be transferred from Paris (France) to Nantes (France), reflecting Effimune's strong academic establishment.

OSE Pharma designs and develops cancer immunotherapy treatments aimed at re-educating the immune system to fight cancer while preserving patients' quality of life.

Effimune specialises in immune regulation for applications in transplantation, autoimmunity and cancer immunotherapy. It is a spin-off of the Nantes Institute of Transplantation Urology Nephrology-(ITUN), created in December 2007.

Country: France

Sector: Pharmaceuticals

Target: Immunotherapeutics

Buyer: OSE Pharma, Effimune

Vendor:

Deal size in USD:

Type: Merger

Financing: Cash and Stock

Status: Agreed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:4EUFR
Date:Apr 18, 2016
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