Pharma Merger Inotek Pharmaceuticals Merges with Rocket Pharmaceuticals
A definitive merger agreement with Rocket Pharmaceuticals has recently been announced by Inotek Pharmaceuticals. Post the merger, the company aims to create a fully-integrated platform gene therapy firm with a portfolio of distinct treatments for devastating genetic diseases.
Massachusetts/USA — Inotek Pharmaceuticals Corporation has recently announced that they have entered into a definitive merger agreement with Rocket Pharmaceuticals, a leading US-based gene therapy company.
Subject to shareholder approval, the combined company will retain the name Rocket Pharmaceuticals and will be headquartered in New York City. The combined company will focus on developing and advancing its pipeline of gene therapies based on lentiviral virus (LVV) and adeno-associated virus (AAV) gene therapy platforms, with a focus on treating devastating rare diseases.
Proposed Transaction Detail
Under the terms of the merger agreement, shareholders of Rocket will receive shares of newly issued Inotek common shares in a private placement. Rocket shareholders are expected to own approximately 81 % of the combined company and current Inotek shareholders will own approximately 19 % of the combined company.