Published in FDA Law Weekly, July 22nd, 2004
The spin-out will be effected by a demerger to existing Amrad shareholders.
Thus, Amrad shareholders will become entitled to shares comprising approximately 80% of the demerged company while Amrad itself will retain an estimated 19.99%.
Amrad will invest $12 million in Avexa and these funds will be used as initial working capital to complete proof-of-concept animal trials for each of its three anti-infectives research projects.
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