January 22, 2018 / 1:58 PM / a month ago

BRIEF-Biocryst Pharma And Idera Pharma Sign Merger Agreement To Form New Company

Jan 22 (Reuters) - Biocryst Pharmaceuticals Inc:

* BIOCRYST PHARMACEUTICALS AND IDERA PHARMACEUTICALS ANNOUNCE MERGER TO COMBINE CAPABILITIES TO SERVE MORE PATIENTS WITH RARE DISEASES

* IDERA PHARMACEUTICALS INC - ‍MERGER AGREEMENT HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES​

* IDERA PHARMACEUTICALS INC - ROBERT INGRAM TO BE CHAIRMAN OF BOARD, VINCENT MILANO TO BE CEO OF COMBINED COMPANY

* IDERA PHARMACEUTICALS - UNDER TERMS OF MERGER AGREEMENT, EACH SHARE OF BIOCRYST COMMON STOCK WILL BE EXCHANGED FOR 0.50 SHARES OF NEW COMPANY STOCK

* IDERA PHARMACEUTICALS - UNDER TERMS OF MERGER AGREEMENT, EACH SHARE OF IDERA COMMON STOCK WILL BE EXCHANGED FOR 0.20 SHARES OF NEW COMPANY STOCK

* IDERA PHARMACEUTICALS - ‍SIGNIFICANT STOCKHOLDER OF CO, BIOCRYST AGREED TO ENTER VOTING AND SUPPORT AGREEMENT AND HAS AGREED TO VOTE IN FAVOR OF DEAL​

* IDERA PHARMACEUTICALS INC - AFTER DEAL BIOCRYST STOCKHOLDERS WILL OWN 51.6 PERCENT OF STOCK OF COMBINED COMPANY, CO‘S STOCKHOLDERS TO OWN 48.4 PERCENT

* IDERA PHARMACEUTICALS - COMBINED COMPANY, WHICH WILL BE RENAMED POST-CLOSING, WILL BE HEADQUARTERED AT CURRENT IDERA HEADQUARTERS

* IDERA PHARMACEUTICALS INC - STOCK ISSUANCE IN MERGER IS EXPECTED TO BE TAX-FREE TO STOCKHOLDERS Source text for Eikon: Further company coverage:

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