Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Signal Genetics Inc gets into bed with privately-owned miRagen Therapeutics

Tuesday, November 1, 2016 9:17
% of readers think this story is Fact. Add your two cents.

Signal Genetics Inc (NASDAQ:SGNL) is to merge with privately-owned biopharmaceutical company miRagen Therapeutics.

The merger will see the holders of miRagen stock owning around 96% of the combined company.

An investor syndicate comprising existing miRagen investors and new investors have committed to pumping in some US$40mln into miRagen ahead of the merger.

The proposed merger will create a clinical-stage, biopharmaceutical company developing proprietary micro RNA-targeted clinical product candidates addressing haematological malignancies and pathological fibrosis and pre-clinical product candidates addressing cardiovascular and neurodegenerative diseases.

The total cash balance of the combined company upon the closing of the proposed merger and the financing is expected to exceed US$50 million.

“We believe microRNA targeting therapeutics have the potential to address complex diseases with high unmet medical need and miRagen will be well positioned to execute on our programs.” said William Marshall, who is not only president of miRagen but also its chief executive officer.

“We believe proceeds from the concurrent financing will allow us to advance our lead assets in haematological malignancy and pathological fibrosis into later stage clinical evaluation,” Marshall added.

Samuel Riccitelli, Signal’s president and chief executive officer, said: “We have chosen to combine with miRagen following an extensive review of strategic alternatives and a thorough process because we believe the proposed merger provides Signal stockholders with an opportunity for value appreciation.”

Shares in Signal shot up 26.2% to 45.35 cents on the news.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.