Once a multi­bil­lion dol­lar com­pa­ny, Ova­Science ends a pen­ny­s­tock ve­hi­cle for Mil­len­do's re­verse merg­er

An am­bi­tious fer­til­i­ty com­pa­ny plagued by a se­ries of dis­ap­point­ments is play­ing out its fi­nal act — serv­ing as a ve­hi­cle for an­oth­er ven­ture’s suc­cess. Ova­Science, once val­ued at $1.8 bil­lion for its idea to help old­er women ex­tend their re­pro­duc­tive years, is merg­ing with Ann Ar­bor’s Mil­len­do Ther­a­peu­tics.

The re­verse merg­er is a way for Mil­len­do to back its way on­to the Nas­daq mar­ket, as Ova­Science is al­ready list­ed as $OVAS. Us­ing a near­ly-de­funct pub­lic com­pa­ny as a ve­hi­cle is a fair­ly com­mon way to gain ac­cess to the pub­lic mar­kets with­out go­ing on a lengthy road­show and putting to­geth­er your own IPO. Af­ter the merg­er is wrapped up, the com­bined com­pa­ny will be called Mil­len­do Ther­a­peu­tics, of course, and the new tick­er sym­bol will be $ML­ND.

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Vice President

Alexandria Real Estate Equities

San Francisco, CA, USA