logo
Share SHARE
FONT-SIZE Plus   Neg

Paladin Labs Acquires Allon Therapeutics Inc.

Paladin Labs Inc. (PLB.TO), and Allon Therapeutics Inc. (NPC.TO) announced that in accordance with the Order for Reorganization in Allon's proposal proceedings under the Bankruptcy and Insolvency Act and under the Canada Business Corporations Act which have been previously announced, Paladin has become the sole shareholder of Allon.

The company said that immediately prior to Paladin becoming the sole shareholder of Allon, all existing issued and outstanding shares and other securities of Allon were, pursuant to the Court Order, cancelled without payment or other consideration.

One of the other consequences of Paladin becoming the sole shareholder of Allon is that Allon will cease being a reporting issuer in Canada, the company noted.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
IKEA is voluntarily recalling 29 million chests and dressers in the U.S. following reports of several injuries, including deaths of three children caused by them tipping over. The recalled chests and dressers are unstable if they are not properly anchored to the wall, posing a serious tip-over and... Dow Chemical Co. (DOW) Tuesday announced its plans to eliminate about 2,500 jobs, or about 4 percent of global workforce, as the company takes full control of Dow Corning Corp., the joint venture formed in 1943 with Corning Inc. Dow Chemicals now owns Dow Corning Corp. completely after Corning exchanged... Quote-to-Cash software provider Apttus is planning Initial Public Offering in the first half of 2017, reported MarketWach.
comments powered by Disqus
Follow RTT