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Biotech firms Redx Pharma and Jounce Therapeutics to merge in $425 mln deal
Redx shareholders will receive 0.2105 Jounce share in exchange for each Redx share, and the combined company would be called Redx Inc and will be listed on Nasdaq. Redx shareholders will own about 63 per cent, while Jounce shareholders will own 37 per cent of the combined group, the statement added.
New Delhi: British biotech firm Redx Pharma plc and U.S.- based Jounce Therapeutics Inc will merge to create a $425 million entity specialised in treating cancer and fibrotic disease.
Redx shareholders will receive 0.2105 Jounce share in exchange for each Redx share, the companies said on Thursday, adding that the combined company would be called Redx Inc and will be listed on Nasdaq.
Redx shareholders will own about 63 per cent, while Jounce shareholders will own 37 per cent of the combined group, the statement added.