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Business & Finance
Pharmaceutical company shareholders approve spinout of targeted immunotherapy assets
February 27th, 2006
Inex Pharmaceuticals Corporation (IEX) announced that INEX shareholders approved the plan of arrangement to complete the spinout of INEX's Targeted Immunotherapy assets into a new company, Tekmira Pharmaceuticals Corporation with 98.3% of shares cast voting in favor of the spinout. Shareholders also approved a stock option plan for Tekmira. Closing of the transaction is now subject to the receipt of certain court approvals and approval of the Toronto Stock Exchange. INEX completed a court hearing to determine whether the Plan of Arrangement can be completed given the terms of INEX's current outstanding convertible debt. The court hearing also...
Source: Pharma Business Week (2006-02-27)
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