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GelTex buys SunPharm for $16.5mm

Executive Summary

GelTex Pharmaceuticals (developing non-absorbable polymer-based drugs) is acquiring SunPharm (therapeutics based on polyamine and iron chelators) for $16.5mm in GelTex common stock. For each of their shares, SunPharm shareholders are getting stock worth about $2.10 , a (pr)68% premium to its own stock's 10-day pre-announcement average of $1.25.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Payment Includes Stock

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