Clinical Data (CLDA) and Avalon Pharmaceuticals (AVRX) To Merge
Clinical Data, Inc. (NASDAQ: CLDA) and Avalon Pharmaceuticals, Inc. (NASDAQ: AVRX) entered into a definitive merger agreement for Clinical Data to acquire Avalon in an all-stock transaction valued at approximately $10 million.
The merger agreement was one of four separate definitive agreements signed by the companies which included: a) a private placement, b) a secured term loan agreement, and c) an exclusive license to Avalon’s drug and biomarker discovery platform.
The merger agreement was one of four separate definitive agreements signed by the companies which included: a) a private placement, b) a secured term loan agreement, and c) an exclusive license to Avalon’s drug and biomarker discovery platform.
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