Ex-Retrophin BD chief flips his rare disease startup onto Nasdaq via reverse merger with Proteon
Proteon Therapeutics’ lead and only drug for kidney and vascular diseases may not be worth much in investors’ eyes, but its Nasdaq listing is proving valuable to ArTara Therapeutics as the shell for a reverse merger.
An unnamed syndicate is injecting $42.5 million into the combined company, in which ArTara will dominate in both name and share structure. Current Proteon stockholders are collectively assigned around 10% of the new entity $TARA.
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