TetraLogic Pharma (TLOG) Announces Same of SMAC Mimetic Program; Will Move to Delist Stock
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TetraLogic Announces Agreements to Sell SMAC mimetic and HDAC inhibitor assets to Medivir and to Restructure its Convertible Senior Notes and Delisting of Common Stock
November 2, 2016 4:30 PM EDTPAOLI, Pa., Nov. 02, 2016 (GLOBE NEWSWIRE) -- TetraLogic Pharmaceuticals Corporation (NASDAQ: TLOG) (TetraLogic or Company), a clinical-stage biopharmaceutical company focused on discovering and developing novel small molecule therapeutics in oncology and infectious diseases, today announced that it has entered into an asset purchase agreement with Medivir AB (Nasdaq Stockholm:MVIR) (Medivir) to sell its SMAC mimetic program, including its clinical stage asset birinapant, and its topical HDAC inhibitor, SHAPE, to Medivir (the Sale).Â
In consideration Medivir is expected to pay $12 million in cash upon closing of the transaction as well as future... More
