Biota Holdings (ASX: BTA) has completed the merger with Nabi Biopharmaceuticals, to form Biota Pharmaceuticals, with the implementation of the scheme of arrangement today.
Nabi Biopharmaceuticals has now acquired all of the shares in Biota Holdings and has changed its name to Biota Pharmaceuticals.
The combined company will be headquartered in the U.S. and listed on the NASDAQ under the ticker BOTA, providing Biota with access to the largest healthcare capital market in the world.
Biota Pharmaceuticals shares are expected to begin trading on the NASDAQ on 9 November 2012 (U.S. time).
Biota’s move to the U.S. is designed to achieve better value recognition and liquidity through a stronger U.S. shareholder base.
The merged company will have three royalty generating products – Relenza, Inavir and potentially PhosLyra, as well as a US$231 million contract with BARDA for the advanced development of laninamivir.
Biota Pharmaceuticals will also have a portfolio of clinical and pre-clinical programs comprising vapendavir, and programs for respiratory syncytial virus, hepatitis C, broad spectrum antibiotic targeting gyrase; plus an interest in NicVAX.
Biota and Nabi received strong support for the merger from their respective shareholders.
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