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November 13, 2011

Synageve BioPharma Announces Completion of Merger with Trimeris

LEXINGTON, Mass.— Synageva BioPharma Corp., a clinical stage biopharmaceutical company developing therapeutic products for rare disorders has announced that following the special meeting of shareholders on November 2, 2011, the Synageva and Trimeris, Inc. merger has closed.

“The closing of this merger marks a significant milestone for Synageva. The company has made the important transition from a private to a public company using an approach which provides an immediate increase in financial resources as well as an ongoing royalty stream and a NASDAQ listing”

The combined company, which now trades on the NASDAQ Global Market under the symbol “GEVA”, is called Synageva BioPharma Corp. and operates under the leadership of Sanj K. Patel, President and Chief Executive Officer. The company’s board of directors consists of representatives from both the former Synageva and Trimeris boards.

“The closing of this merger marks a significant milestone for Synageva. The company has made the important transition from a private to a public company using an approach which provides an immediate increase in financial resources as well as an ongoing royalty stream and a NASDAQ listing,” said Sanj K. Patel, President and Chief Executive Officer of Synageva. These funds will be used to advance our LAL Deficiency program towards commercialization and progress our other promising drug candidates. We remain focused on developing treatments that make a meaningful impact on the lives of patients suffering from rare diseases.”

Prior to the merger, Trimeris effected a 1-for-5 reverse stock split of its outstanding common stock. After giving effect to the reverse stock split, each former share of Synageva (on an as converted basis) was converted into the right to receive approximately 0.413 shares of the combined company’s common stock. All options and warrants of Synageva that were outstanding prior to the merger were assumed by the combined company in the merger. The combined company has approximately 17.5 million shares outstanding and, on a fully diluted basis, 19.4 million shares.