SCIOS INC. AND NOVA PHARMACEUTICAL CORPORATION COMPLETE MERGER TO FORM SCIOS NOVA INC.
SCIOS INC. AND NOVA PHARMACEUTICAL CORPORATION COMPLETE MERGER TO FORM SCIOS NOVA INC. MOUNTAIN VIEW, Calif., Sept. 4 /PRNewswire/ -- Scios Inc. (NASDAQ: SCIO) and Nova Pharmaceutical Corporation (NASDAQ: NOVX), Baltimore, Md., announced today that they have completed the merger of the two companies. Effective immediately, the combined company is Scios Nova Inc. At separate meetings held Sept. 3, stockholders of both companies approved the merger. Effective at the opening of trading today, the common stock of Scios Nova Inc. will trade under the symbol "SCIO" and Scios Nova Inc. Class C and Class D warrants will trade under symbols SCIOW and SCIOZ, respectively. The common stock and warrants of Nova ceased trading on the NASDAQ National Market System at the close of trading Thursday, Sept. 3. Nova stock holders and warrant holders will soon receive in the mail a packet of materials explaining the procedure for exchanging their securities from the First National Bank of Boston. Scios Nova Inc. is a biopharmaceutical company engaged in the discovery, development and commercialization of novel human therapeutics. Scios Nova focuses its efforts in four areas: cardiovascular disease, inflammation, metabolic disorders and tissue repair. The company's drug discovery technology encompasses both biotechnology techniques and small molecule design to develop new biopharmaceutical products. Scios Nova develops and commercializes products on a proprietary basis and in collaboration with established companies. -0- 9/4/92 /CONTACT: Virginia Walker, 415-940-6634 or -6631, or Kira Bacon, 410-558-9465, of Scios Nova Inc.; or Lynne Brum of Feinstein Partners, 617-577-8110, for Scios Nova Inc./ (SCIO NOVX) CO: Scios Nova Inc. ST: California, Maryland IN: MTC SU: TNM
CN -- NE002 -- 6796 09/04/92 08:28 EDT
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|Date:||Sep 4, 1992|
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