Clinical-Stage Pharmaceuticals Mitsubishi Tanabe Pharma Corporation to Acquire Neuroderm
Shareholders at the Neuroderm general meeting approve previously announced acquisition by Mitsubishi Tanabe Pharma Corporation.
Rehovot/Israel — Neuroderm, a clinical stage pharmaceutical company recently announced that at its extraordinary general meeting of shareholders it was decided to approve the previously announced acquisition by Mitsubishi Tanabe Pharma Corporation (MTPC). Likewise the members approved all transactions and arrangements contemplated under the related merger agreement, including the merger of MT Porto, a wholly-owned subsidiary of MTPC with and into Neuroderm. Both the companies had entered into the foregoing merger agreement on July 24, 2017.
Neuroderm has also reported that all the antitrust approvals and clearances required for the merger have been obtained. Subject to the satisfaction or waiver of the closing conditions set forth in the merger agreement, the company expects the merger to be completed in mid-October 2017, following the expiration of a mandatory 30-day waiting period following the shareholder approval in accordance with the Israeli law.