Ocera Therapeutics, Inc., a clinical stage biopharmaceutical company developing novel therapeutics for orphan liver diseases, and Tranzyme, Inc. (TZYM: Quote) announced that Ocera and Tranzyme merger has closed.
The company stated that the combined company is named Ocera Therapeutics, Inc. and will trade beginning July 16, 2013 on the NASDAQ Global Market under the symbol "OCRX".
Tranzyme said prior to the merger, the company effected a 12-to-1 reverse split of its outstanding common stock. After giving effect to the merger and the reverse stock split, the holder of each share of the common stock of pre-merger Ocera received about 0.12 million shares of the company's common stock.
All options and warrants of pre-merger Ocera that were outstanding prior to the merger were assumed by Tranzyme in the merger.
Immediately following the closing of the merger, certain of the Ocera investors, including Domain Associates, Thomas McNerney & Partners, Sofinnova Ventures, InterWest Partners, Greenspring Associates, Agechem, CDIB and Wasatch Advisors, invested about $20 million in the company through a private placement financing at $6.0264 per share of post-split Company stock.
Following the merger, the reverse split and the financing, the company said it has approximately 11.3 million shares outstanding.
by RTT Staff Writer
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