BERLIN (Reuters) -Switzerland’s Xlife Sciences AG said on Wednesday its portfolio company, VERAXA Biotech AG, will merge with Voyager Acquisition in a deal that will value the combined company at $1.64 billion.
The merger would create a biopharma company focused on developing next-generation cancer therapies, and list VERAXA Biotech on the Nasdaq.
The transaction values VERAXA at about $1.3 billion. Its shareholders will receive approximately 130 million shares of the combined company.
Upon completion of the transaction, expected to close in the fourth quarter, VERAXA expects to access gross proceeds of up to $253 million in Voyager’s trust account, the company said.
(Reporting by Bipasha Dey in Bengaluru and Miranda Murray in Berlin; Editing by Janane Venkatraman and Saad Sayeed)
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