OnCore Biopharma Announces Merger Agreement with Tekmira Pharmaceuticals

Palo Alto – January 14, 2015 – Cooley is advising OnCore Biopharma, Inc. on its proposed merger with Tekmira Pharmaceuticals Corporation to create a new leading global company focused on developing a curative regimen for hepatitis B (HBV) patients by combining multiple therapeutic approaches. Under the terms of the agreement, OnCore will become a wholly-owned subsidiary of Tekmira. Upon closing of the transaction, the stockholders of OnCore will hold approximately fifty percent (50%) of the total number of outstanding shares of capital stock of Tekmira, calculated on a fully-diluted and as-converted basis using the treasury stock method. The implied market value of the combined company, based on the closing price of Tekmira common shares on the NASDAQ Global Market on January 9, 2015, was approximately USD$750 million.

OnCore is a biopharmaceutical company dedicated to discovering, developing and commercializing an all-oral cure for patients suffering from chronic hepatitis B infection, which is a disease of the liver caused by HBV. Tekmira Pharmaceuticals is a biopharmaceutical company focused on advancing novel RNAi therapeutics and providing its leading lipid nanoparticle (LNP) delivery technology to pharmaceutical and biotechnology partners.

OnCore had previously announced the filing of a confidential draft registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. 

About Cooley LLP

Cooley's lawyers solve legal issues for entrepreneurs, investors, financial institutions and established companies. Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, often where innovation meets the law.

Cooley has 850 lawyers across 12 offices in the United States, China and Europe.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.