Leadership may not have a comprehensive understanding of the publicly traded market, and the company may not have the appropriate personnel and controls in place. 11 Dec 2022 21:00:00 On the Closing Date, pursuant to the terms of the Agreement, INNO acquired all of the . Altamira finds buyer for Zilentin inner ear unit so Swiss biotech can go all-in on RNA. Formerly GPC Biotech AG. Under the first scenario, a private . CAMBRIDGE, Mass. Management has been hard at work behind the scenes over the past 2 years whipping out millions in debt leaving Plandai a perfect RM candidate with a low float and virtually now debt. EisnerAmper is the brand name under which EisnerAmper LLP and Eisner Advisory Group LLC provide professional services. Proposed merger to create publicly traded biopharmaceutical company focused on developing cutting-edge treatments for . Microcapdailywill becoveringPlandai / Puriblood RM as it happens so make sure you subscribe toMicrocapdailyright now so you dont miss it. We have seen many that work out extremely well, but this too comes with risks. 2022 Eisner Advisory Group LLC. And in the world of biotechnology, failure is more frequent than in other industries where firms typically generate revenue and/or profits before seeking a stock exchange listing. Trust is an important asset for development stage biotechs since they depend on the public markets for their lifeblood: funding. JACKSONVILLE, Fla., Dec. 02, 2022 (GLOBE NEWSWIRE) Coastal Capital Acquisition Corporation (OTCMKTS: CCAJ), is currently listed on the OTC Markets (OTCMKTS) with its symbol CCAJ.The Company, as of December 1, 2022, has submitted to FINRA a Reverse Stock Split with every ten (10) shares of outstanding common shares held by each shareholder will automatically be converted into one (1) common . However, a reverse merger can promise you that. Here are a few possible downsides to going the reverse-merger route: As someone whos been involved in a fair share of reverse mergers or with companies that had previously completed a reverse merger, my best advice for biotechs considering a reverse merger is (1) consider reversing into a company that has never actually been a shell; (2) if it must be a shell, do your due diligence; try to ensure it has cash and/or is already trading and has a broad shareholder base; and (3) assuming its a private company, also consider a Reg A+ as an alternative to a reverse merger," says Jeff Eliot Margolis, President of Aurora Capital LLC. Two recent RM runners that stand out are TSNP which went from sub pennies (where we first wrote about it) to several dollars per share. Private-equity firm Deerfield Management Co.-backed Chondrial on Friday completed a merger with biotech concern Zafgen Inc. Simply becoming an SEC filer would triple the market cap of Plandai or more. Plandai Biotechnology Inc (OTCMKTS: PLPL) is a publicly quoted shell company domiciled in Nevada seeking to create value for its shareholders by merging with another entity with experienced management and opportunities for growth. On June 7, 2019, Edesa Biotech, Inc., a private Canadian biotech company, completed a business combination pursuant to a share exchange transaction with Stellar Biotechnologies, Inc. Cancer drug developer Oncternal Therapeutics will become publicly traded, under terms of a reverse merger announced Thursday. In a reverse merger, a private company buys a public company with cash and equity. Pursuant to terms of transaction, which the Alterola will acquire all of the outstanding shares of capital stock of ABTI Pharma from its shareholders in exchange for 600 . Sanofi granted Regeneron exclusive, worldwide rights to develop and commercialize Libtayo for the treatment of cancer. The business model of a SPACE or Special Purpose Acquisition Company, also known as a "blank check," is similar but not identical to that of reverse mergers. Lordstown Motors is the latest high-profile company that plans to go public by merging with a special purpose acquisition company or SPAC. Sanofi is eligible for EUR80M (approx. Chris Dokomajilar is the Founder / CEO of DealForma and has been an industry analyst for over a decade. Thermo Fisher racks up higher-than-expected COVID test sales yet again, adding an extra $200M to Q3 haul. recently plandai announced a reverse merger loi with puriblood medical co., ltd whereby, jessie chiang chiang via entities she controls, will license to plandai the exclusive rights to the puriblood technology for north, central, and south america for a period of 30 years and will acquire the controlling interest in the company and will become For example, Quince Market Insights, in a report issued late in 2021, estimates the global leukapheresis market will grow at a compound annual growth rate of 43.9% until 2030. A private company looking to go public merges with a company that is already publicly traded and changes the ticker symbol. Chardan has been a leader in SPACs since 2004, and in 2018, pioneered the use-case of SPACs for biotech companies. Puma Biotechnology raised $55 million and has a market capitalization of $1.6 billion. Plandai Biotechnology Inc (OTCMKTS: PLPL) continues to move northbound in recent trading moving up another 44% on Friday alone. Do you really want to your public life with people questioning the motives behind your financing strategy? Orion will receive $290M up front, including $221M recognized as income, and approximately $60.3M reserved to cover Orions share of ODM-208 future development cost. The top deal upfront for February 2022 was the Heidelberg development and commercialization partnership with Huadong for HDP-101, HDP-103, and options for HDP-102 (CD37-ATAC) and HDP-104. For the private biotech interested in a reverse merger, the public entity should possess some cash that can be used for research and product development; no major red flags, such as litigation; agreement and clarity on the new leadership structure; and a company structure that can integrate technology and reporting systems. And in the world of biotechnology, failure is more frequent than in other industries where firms typically generate revenue and/or profits before seeking a stock exchange listing. Dr. Regeneron and Sanofi signed a license agreement in 2015 to develop Libtayo. The top deal upfront for July 2022 was the Orion co-development and co-commercialization deal with MSD for ODM-208. WAIT! Replicating this bench of expert attention takes time and is by no means guaranteed. With only $51m in the bank perhaps Forte's short public existence will end the way it began, with the company becoming a reverse merger target itself. Delivered To Your Inbox For FREE? The top deal upfront for April 2022 was the Harbour BioMed development and commercialization deal with AstraZeneca for solid tumors. The rules further state that the company maintains the requisite minimum share price for a sustained period, and for at least 30 of the 60 trading days, immediately prior to its listing application and the exchanges decision to list. Under the terms of the proposed agreement, the current holder of the worldwide rights, exclusive of Taiwan, Jessie Chiang, via entities she controls, will license to Plandai the exclusive rights to the Puriblood technology for North, Central, and South America for a period of 30 years. Here is a list of some of the most notable alternative public offerings that have taken place in crypto. Our Personal Tax Guide highlights tax planning ideas that may help you minimize your tax liability. After completing the reverse merger, the public company must file a Form 8-K describing the new company. by DealForma Analysts | Jun 10, 2022 | Deal of the Month. The task force also notes that the state's business climate has also played a role. In reality, some public companies fail. Reverse Merger. Reverse Merger OTC Stock #1 TXTM. Management has been hard at work behind the scenes over the past 2 years, a perfect RM candidate with a low float and, now debt. Torreya: A Global Investment Bank Serving Life Sciences Companies Make that two biotech reverse mergers in one day Arsalan Arif Founder Natasha Giordano, PLx Hot on the heels of a reverse merger between Tokai and Otic, Dipexium $DPRX announced that it. A reverse merger is a way for private companies to go public, and while they can be an excellent opportunity for investors, they also have certain disadvantages. by DealForma Analysts | Jan 10, 2022 | Deal of the Month. This copy is for your personal, non-commercial use only. IGM will receive $150M up front and is eligible to receive up to $6.015B in regulatory and commercial milestones, which includes $940M for each of 3 cancer targets and $1.065B for each of 3 immunology/inflammation targets. If you're a small, private biotech company and you don't have the capitalor maybe the trial data or the awarenessto do a fully marketed IPO with a big-name investment bank, you can get a reverse merger done in three to four months at significantly lower cost. Sanofi will invest EUR300M (approx. Orion granted MSD rights to co-develop and co-commercialize ODM-208 for the treatment of metastatic castration-resistant prostate cancer. We view this proposed transaction as being in the best interest of our shareholders. A reverse merger deal is a transaction in which an active private company merges with a dormant public company in a bid to go public without having to go through the arduous route of a traditional . Disclosure: we hold no position in PLPL either long or short and we have not been compensated for this article. The share price surged from $0.002 at the beginning of the month to the current level at $0.0164, gaining over 700%, which demonstrates once again that the OTC is the place to go even when the stock market is bleeding. He analyzed the data and produced the table for this article. The idea is beguiling. We have since developed an industry-leading healthcare SPAC practice acting as sponsor, underwriter and M&A advisor. Vical announced a reverse merger with Brickell Biotech on June 3rd, 2019 which will require shareholder approval. Reverse merger stocks can be more explosive than biotechs when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. Are Reverse Mergers A Good Way for Biotechs to Go Public? The SEC issues a bulletin warning about the dangers of investing in reverse merger stocks -- clearly motivated by the Chinese stock fraud scandal. The reverse merger with the Boston-based neurodegenerative disease company is a way for Kineta to go public for the first time. Our use of the terms our firm and we and us and terms of similar import, denote the alternative practice structure conducted by EisnerAmper LLP and Eisner Advisory GroupLLC. 2. The combined company, called Edesa Biotech, Inc., commenced trading on the Nasdaq Capital Market on June 10, 2019 under the symbol "EDSA". There is no guarantee, however, that the (typically illiquid) market in the target/small caps stock will subsequently reflect these assumed valuations. $PLPL closed at .0013 which is the NHOD. then enact a reverse merger with Seattle biotech Kineta Inc. There is usually a concurrent financing designed to give the new public company needed liquidity. Mr. Houser declared that the new President and board member of BTMD is Charles R. Crane, M.D., age 65. In addition, without a continuum of views on your stock its possible your secondary market liquidity could also suffer. Amryt shareholders could receive further payouts . Biotech Startup Yumanity Sets Reverse Merger With Proteostasis | MarketScreener Homepage Equities United States Nasdaq Proteostasis Therapeutics, Inc. News Summary US74373B1098 PROTEOSTASIS THERAPEUTICS, INC. (PTI) Add to my list We have been carefully vetting such opportunities, and we are now pleased to present this opportunity to our shareholders. SpringWorks will receive a $75M equity investment in shares of common stock at a premium to the 30-day volume-weighted average share price on Sept 2, 2022, and is eligible to receive up to $550M in development and commercial milestones. PLPL historically had a massive debt problem, 2 years ago there was over $20 million in liabilities on the books, many of them convertible that has all be cleared out now leaving Plandai virtually debt free. The SEC can suspend trading and even revoke the securities registration of reverse merger companies, for example, due to their failure to make required periodic filings. Oct 21, 2022 11:40am. Dragonfly will receive $300M up front and is eligible to receive undisclosed opt-in payments and development, regulatory, and commercial milestones, plus up to 20% royalties. One bad news headline can kill an IPO. EisnerAmper LLP is a licensed CPA firm that provides attest services, and Eisner Advisory Group LLC and its subsidiary entities provide tax and business consulting services. IPOs are a chance for previously private biotechs to raise the largest financing haul of their lifetimes. Understanding Reverse Mergers. A little Norwegian biotech announced the end of its journey Thursday in a reverse merger, roughly three months after announcing it would essentially sell itself for parts. The primary advantage for a company to pursue a reverse merger instead of an IPO is the avoidance of the onerous IPO process, which is lengthy and costly. Save my name, email, and website in this browser for the next time I comment. Millendo, in 2018, also went public via a reverse merger. Although no two reverse mergers are the same (a banker intimately involved in such transactions once commented to me: Once youve seen one reverse-merger, youve seen one.), going public by means of a reverse-merger comes with a lot of disadvantages. The clinical-stage biotech company specializes in immunotherapies with a focus on inflammatory bowel disease (IBD). The commission on Monday sent a "statement of objections" outlining the process Illumina must follow in divesting Grail, its blood-testing spinoff founded in 2016. As we have been saying reverse merger stocks can be more explosive than biotechs when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. Plandai plans to release additional information concerning the progress of the proposed transaction as soon as possible, upon the completion of its due diligence investigation. Cynicsand there are understandably a lot of those in the promise-heavy field of biotechnology,tend to be skeptical of biotechs undertaking reverse mergers. Intrinsic Medicine and its blank-check partner Phoenix Biotech Acquisition Corp. called off their reverse merger Tuesday night, citing "current market conditions" as the reason it went kaput. A reverse mergeralso known as a reverse takeoveris where a private company acquires a public (shell) company that is typically in distress. It concludes that the economic recession, corporate mergers, and patent expirations have all slowed innovation in New Jersey. Due to some questionable deals, the SEC has taken a greater role in reverse mergers. He analyzed the data and produced the table for this article. DealForma is the biopharma database providing you comprehensive information and dedicated analyst support to help you be more confident using quality data in your business development research. Biopharmx Shareholders Approve Reverse Merger With Timber Pharma Biopharmx Corp BPMX announced that all proposals related to its proposed merger with Timber Pharmaceuticals were approved by. The distressed public company may have a myriad of problems, such as pending legal action. 22 Advisory Firms Shaping Biotech Mergers. The private company sometimes. In a reverse merger, a private company acquires a publicly listed company. After preliminary quality control and merger, operational taxonomic units (OTUs) were clustered with 99% similarity cutoff using UPARSE and chimeric sequences were identified and removed using UCHIME. Shareholders in the failed company get to salvage some residual value from their investment, and the reverse-acquirer obtains a stock market listing without having to pay several or tens of millions of dollars in banking fees to a syndicate of banks. by DealForma Analysts | Sep 2, 2022 | Deal of the Month. by DealForma Analysts | May 10, 2022 | Deal of the Month. If the shell entity is SEC-registered, the private company does not have to go through governmental review. Reverse merger in December 2009 Johnson & Johnson Pharmaceutical Research & Development LLC 5 years 8 months Finance Manager, Global R&D Finance . You scrolled all the way here. Phoenix Biotech Acquisition Corp. PBAX is a blank-check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business . EisnerAmper discusses a summary of CARES Act and how self-employed individuals, independent contractors or sole proprietors must submit necessary documentation. by DealForma Analysts | Aug 22, 2022 | Deal of the Month. Theme Healthcare & Pharmaceuticals Aduro Biotech Inc. completed its reverse merger with privately held biotechnology company Chinook Therapeutics Inc. You have entered an incorrect email address! Unlike traditional IPOs, reverse mergers and SPac share many requirements with traditional IPOs. In a challenging year for biotechs planning to go public, the reverse merger gives Disc an alternative route to Wall Street, while a concurrent round of financing hands it access to new funds. Not having a syndicate of bankers when you go public will affect your life as a public company. By contrast, reverse-mergers are typically accompanied by much smaller financings that are typically limited to existing supportive investors. Prometheus' lead therapy in its pipeline is IBD drug PRA023. . In addition, the company is in the process of engaging a PCAOB audit firm to complete a two-year audit of the company as part of an effort to file registration statement with the SEC. One additional option that is a consequence of a bull biotech market followed by a downturn is the reverse merger. The San Diego company said it has agreed to purchase the majority. Because, whenever, stock market conditions fluctuate, the time invested by the managers associated with IPO, in the deal also extends until a favourable outcome is ensured. Schedule your customized demo to see how DealForma helps you win that term sheet with better data. It costs much less to perform a reverse merger versus an IPO, perhaps as much as 5 to 10 times less. Companies plan to uplist to NASDAQ as quickly as possible, but this usually requires a follow-on financing. The misfire of its lead atopic dermatitis project last week prompted an 83% share price collapse. The new entity generally has low trading volumes and investor liquidity issues. Puriblood Medical Co., Ltd. [Taipei Exchange], develops and sells blood cell separation products including its leukocyte reduction filters for red blood cells, platelets, and whole blood, as well as real-time filtration sets for whole blood. by DealForma Analysts | Mar 10, 2022 | Deal of the Month. This quick list of deals can lead to some interesting analyses: stock price moves, stages of companies, therapeutic areas, technologies, and more. Eisner Advisory Group LLC and its subsidiary entities are not licensed CPA firms. There have been quite a few successful reverse mergers, and this seems to be the path that many biotech companies at earlier stages of development seem to be taking in order to enter the public markets. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. These can be overcome with a great deal of effort (or a great IR partner), but any biotech CEO or CFO contemplating such a transaction should be familiar with the associated pitfalls. For life sciences companies, revers. PLPL still owns intellectual properties related to its prior research, development and production of botanical extracts including trademarks, trade secrets, and product formulations for green tea and citrus products from discontinued operations. Nordic. These challenges have prompted industry leaders to seek acquisitions that boost their growth outlooks. Two recent RM runners that stand out are TSNP which went from sub pennies (where we first wrote about it) to several dollars per share. 2019 is on track to be a record year for biotech mergers and acquisitions. In other words, what didnt institutional investors that are typical IPO buyers not like? A reverse merger involves a public company issuing new shares to acquire a private company, whose shareholders typically take control of the public company, gaining the listing and cash to pursue a business plan that has better prospects than those of the public company on its own. Also, its not uncommon to see public companies outside of the life sciences space on one side of the deal. Reverse merger stocks can be more explosive than biotech's when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. Could Go Up 348% In Days EisnerAmper LLP is a licensed independent CPA firm that provides attest services to its clients, and Eisner Advisory Group LLC and its subsidiary entities provide tax and business consulting services to their clients. The stock has dropped from $1.14 to $0.82 despite the transaction valuing the. Should Biotechs Consider a Reverse Merger? Currently trading at a $9 million market valuation, has 7,006,411,205 shares outstanding and 5,176,257,801 shares currently in the float. Vical announces a reverse merger with Brickell Jun. Reverse mergers have been a relatively quick method for companies to gain a public listing as an alternative to IPOs. Having a public market to trade in the stock even after a seasoning period (versus a private, totally illiquid market) is appealing to investors. . Beam will receive $300M up front, up to up to $1.05B in development, regulatory, and sales milestones, plus royalties per licensed program. The reverse merger, also called a share-exchange agreement, is expected to close in June. Puribloods technology is patented in multiple strategic countries, including the United States, and cleared for marketing by the U.S. Food and Drug Administration under Section 510(k) of the Federal Food, Drug, and Cosmetic Act. Small Biotech Plays Before Big News Hits. Biotech Reverse Merger Success Stories Cougar Biotechnology raised $47.5 million and was sold to Johnson & Johnson for $1 billion. If you would like to talk through the options available for financing your public or private biotech company, or just to discuss your investor relations strategy more broadly, please contact us today. Survey: Executives Doubling Down on Technology Investment for 2022, EisnerAmpers 2021 National Virtual Summit to Focus on Transformation Nation Driving Intelligent Growth, EisnerAmper Announces Investment by TowerBrook Capital Partners. Lastly, undertaking a reverse merger is a bit like missing out on a giant party held especially for you, at which you are the center of attention. Synageva merged with Trimeris, which was acquired by Alexion for more than $8.4 billion. Yet it could be argued that Lumos is also a distressed entity; the group has burned through most of its $48m of VC cash (the last raise having been in 2016), and . Questionable deals in the 1980s have given reverse mergers a less-than-stellar reputation, which may make investors wary. Something is coming next week https://t.co/EpmkG8ImCn. PLPL RM has significant potential from current levels. Technically, the public company is acquiring the private company, hence the 'reverse' part. What is wrong with this company that they werent ABLE to go public via a traditional IPO? The top deal upfront for June 2022 was the Sanofi development and commercialization deal with Regeneron for Libtayo (Amended Agreement). Millendo had tested drugs to treat a variety of illnesses, ranging from menopausal symptoms to the genetic Prader-Willi Syndrome. Dive Insight: Current market conditions are preventing many private biotech companies from going public, but where there's a will, there's a way. The top deal upfront for December 2021 was the Foghorn Loxo (Eli Lilly) partnership for Foghorns Gene Traffic Control platform. Tad Mailander, the Companys CEO and director commented, We have been very clear with our shareholders that Plandai has planned to create increased value by merging with another business entity or implementing a positive change in business direction via a new management team. The top deal upfront for Sep 2022 was the SpringWorks expanded clinical collaboration with GSK for Nirogacestat in combination with GSKs Blenrep. NDL will issue shares to HLF shareholders & NDL Capital will rise to shares of . The private company must be honest with itself as to both why it wants to be publicly traded and why acquiring a distressed public company would be a good, long-term strategy. Based on an analysis of the Reviewed Transactions, the most active sectors were: Among Notable Transactions, the healthcare/biotech industry represented 46% of these larger deals. There are, of course, examples of successful reverse-mergers in the biotech world, but I would argue they typically create an uphill battle for management in their first year of being a public company. Without a pack of covering analysts, its possible that any good news you report is either misunderstood or incorrectly valued by the market. Chris Dokomajilar is the Founder / CEO of DealForma and has been an industry analyst for over a decade. ViewRay raised $26.7 million. They sound like big numbers but PLPL is trading at $0.0013. At this stage in their life cycle, such companies typically either invite interest from would be reverse-acquirers, possibly engaging a financial advisor to assist in the process, or else are the recipients of unsolicited interest from private companies wishing to go public.. This is a biotech reverse merger. Subscribe Right Now! EisnerAmper LLP and Eisner Advisory Group LLC practice as an alternative practice structure in accordance with the AICPA Code of Professional Conductand applicable law, regulations and professional standards. Intrinsic Medicine and its blank-check partner Phoenix Biotech Acquisition Corp. called off their reverse merger early last week, citing "current market conditions" as the reason. For example, a company will have a valuation at its Series A, a higher valuation at its Series B, a higher value still at a mezzanine/crossover financing, followed by a banker-and-analyst validated valuation at IPO. Over 100,000 Investors Can't be Wrong, PUBLISH ARTICLE ON MICROCAPDAILY ON YOUR FAVORITE STOCK. As we have been saying reverse merger stocks can be more explosive than biotechs when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. In a reverse merger, a public shell company combines with a private company, which assumes reporting responsibilities and gains access to public capital markets. Companies with a public listing reverse merged with private biopharma. Currently, approximately thirty countries around the world require leuko-reduction in blood supplies. Theres less opportunity to showcase a company to potential investors in a reverse merger versus an IPO. Our team is looking forward to completing our due diligence process and ultimately closing on this transaction.. Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved. Puriblood is a U.S. registered trademark of Puriblood Medical Co., Ltd. Shares of Stellar Biotechnologies Inc ( NASDAQ:SBOT) spiked Friday in the wake of its announcement of a reverse merger with Edesa Biotech, a private Canadian biotech, that will create a company focused on dermatological and gastrointestinal therapies. The top deal upfront for Aug 2022 was the Sanofi development and commercialization deal with Innovent for SAR408701 and SAR444245. Though the privately held Catheter Precision will become a wholly owned subsidiary of the publicly traded Ra Medical, Catheter Precision's shareholders will end up with a . There may be higher company valuation in a reverse merger. The top deal upfront for May 2022 was the Dragonfly Therapeutics development and commercialization deal with Gilead Sciences for solid tumors. ProText Mobility, Inc exploded after the announcement of a reverse merger deal. There is less ownership dilution than in an IPO. This comes after a 2-year quiet period during which time the Company cleared out $7 million in debt leaving them debt free. This usually happens in one of two ways: (1) a private company acquires a public company or (2) a public company acquires a private company with the intention of taking it public. Corporation Taiwan 2f., No. Gilead has an exclusive, worldwide option to develop and commercialize additional NK cell engager programs by using its Tri-specific NK Engager (TriNKET) platform after the completion of certain preclinical activities. 11, Gongye E. 9th Rd. Cougar Biotechnology raised $47.5 million and was sold to Johnson & Johnson for $1 billion. In addition, the company is in the process of engaging a PCAOB audit firm to complete a two-year audit of the company as part of an effort to file registration statement with the SEC. You might save millions of dollars in banking fees, but in truth, those IPO fees bring support from the full weight of the banks that comprise your syndicate including research analyst support through their vetting process that ultimately and most often leads to research coverage. All rights reserved. On October 8, INNO effectuated a Merger which resulted in Unique Logistics Holdings, Inc., a logistics services company that provides a range of international services that enable its customers to outsource to it sections of their supply chain process. We have a Monster Pick Coming. An IPO may take 6-9 months or longer, and costs more money. Privacy Policy. In 2011, it issued a bulletin recommending potential investors (1) research the company; (2) review the companys SEC filings; and (3) beware of non-reporting companies. Puribloods technology is patented in multiple strategic countries, including the United States, and cleared for marketing by the U.S. Food and Drug Administration under Section 510(k) of the Federal Food, Drug, and Cosmetic Act. Puma Biotechnology raised $55 million and has a market capitalization of $1.6 billion. Schedule your demo of the DealForma database to see how we help you get better reports done faster. The PCR products were paired-end sequenced (2 300) on the Illumina MiSeq platform (Illumina, San Diego, USA) according to standard protocols. The combined company, based in Bala Cynwyd, Pa., is called Larimar Therapeutics Inc. 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