Anthrax-targeted biodefense biotechs join forces in merger pact
Three years after the biodefense biotech PharmaThene’s $PIP deal to merge into Theraclone fell apart, the Annapolis, MD-based group has struck a deal to combine with Novartis-backed Altimmune in nearby Gaithersburg.
Altimmune shareholders will come out with the lion’s share of the stock and Altimmune CEO Bill Enright takes the helm of the merged operation, which brings together programs with shared targets. The biotech will also switch its stock symbol to $ALT.
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