Alteon and HaptoGuard in $8.8M merger
US drugmaker Alteon has signed a definitive merger agreement with HaptoGuard, a privately-held biotechnology company, in a stock transaction valued at $8.8 million. The companies say they have complementary product platforms in cardiovascular diseases, diabetes and other inflammatory diseases, including two Phase II clinical-stage compounds focused on CV diseases in diabetics. In addition, Alteon has signed definitive agreements for a $2.6 million equity financing to help fund the future clinical development efforts of the merged company.
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