Threshold Pharmaceuticals and Molecular Templates Agree to Combine
On March 17, 2017 Threshold Pharmaceuticals, Inc. (NASDAQ: THLD), a clinical-stage biopharmaceutical company developing novel therapies for cancer, announced it has entered into a definitive agreement to merge with Molecular Templates, Inc. Molecular Templates, Inc. is a privately held biopharmaceutical company. The combined Company will focus on the development of novel treatments for cancer. Some additional highlights of the transaction are below:
- Molecular Templates lead drug candidate being developed to treat non-Hodgkin’s Lymphoma (NHL); engineered toxin body (ETB) platform has applications in multiple oncology indications.
- Combined Company will be capitalized to support advancement of MT-3724 – an immunotoxin designed to kill NHL B cells
Under the terms, Longitude Capital, a U.S. based venture capital firm, will invest $20 million at the close of the transaction, subject to certain conditions, including the receipt of additional equity. On a pro forma basis and based upon the number of shares of common stock to be issued in the merger, current Threshold shareholders would own approximately 34.4 percent of the combined company and current Molecular Templates shareholders would own approximately 65.6 percent. The transaction has been approved by the board of directors of both companies. The merger is expected to close in the second quarter of 2017.
Read the full press release at www.thresholdpharm.com
Below are highlights of additional Merger and Acquisition activity from the last week:
Internet Software M&A News: On March 13, 2017 Alarm.com Inc. (NASDAQ: ALRM), the leading platform for the connected home and business, announced the acquisition of ObjectVideo, Inc. – a pioneer in the fields of video analytics and computer vision.
Read more at www.alarm.com
Financial Data M&A News: On March 20, 2017 FactSet (NYSE: FDS) (NASDAQ: FDS), a global provider of integrated financial information, analytical applications, and industry-leading service, announced that it has acquired BISAM Technologies S.A. for $205.2 million from Aquiline Capital Partners.
Read more at www.factset.com
Packaging M&A News: On March 14, 2017 Sonoco (NYSE: SON), one of the largest diversified global packaging companies, announced it has officially completed the acquisition of Peninsula Packaging Company, a leading manufacturer of thermoformed packaging for fresh fruit and vegetables found in the fast-growing perimeter of retail supermarkets.
Read more at www.sonoco.com
