Tech Company M&A Transactions
Ercole Biotech Acquisition
Ercole Biotech was purchased by Sarepta Therapeutics. The transaction occurred on 3/13/2008. The transaction price was $9 million.
Transaction Overview
Company Name
Acquired By
Announced On
3/13/2008
Transaction Type
M&A
Amount
$9,000,000
M&A Terms
Under the terms of the agreement, AVI Biopharma (later renamed to Sarepta Therapeutics) will issue up to $7.5 million in AVI common stock valued at $1.3161 per share in exchange for all outstanding shares of Ercole stock not already owned by AVI. In addition, AVI will assume responsibility for up to $1.5 million in liabilities of Ercole, to be paid by a combination of cash and AVI stock. Liabilities in excess of $1.5 million will be deducted from the $7.5 million in common stock.
Company Information
Company Status
Acquired or Merged
Industry
Biopharmaceutical
Mailing Address
P.O. Box 12295
Research Triangle Park, NC 27709
USA
Research Triangle Park, NC 27709
USA
Phone
Website
Email Address
Not Recorded
Overview
Ercole's platform splice switching technology allows targeting genes previously considered undruggable. The functions of a large number of genes, which generate alternatively spliced pre-mRNA, can be modulated for the treatment of a multitude of diseases.
Profile
Social Media
Company News
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Management Team
Title
Name
Email & Social
Chairman
Clayton Duncan
President
Ryszard Kole
Vice President
Bennett Love
VP - Operations
Ted Bebenek
VP - R & D
Peter Sazani
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