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Genome Canada Startup Emerillon Therapeutics to Acquire HemaX Genome in All-Stock Transaction

NEW YORK, Oct. 10 (GenomeWeb News) - Emerillon Therapeutics will acquire HemaX Genome in an all-stock transaction, the Canadian companies said last week.

 

Under the agreement, Emerillon will acquire all outstanding shares of HemaX.in exchange for Emerillon shares. In addition, GeneChem Technologies, one of HemaX's venture capital investors, will make an equity investment in Emerillon.

 

Emerillon, which studies genes associated with human complex diseases, was founded in 2003 as a spinoff from Xenon Pharmaceuticals with funding from Genome Canadaand Genome Quebec. "This is the first major involvement of venture capital investment in a Genome Quebec initiated company," said Paul L'Archeveque, president of Genome Quebec, in a statement.

 

HemaX has been focusing on genes of medical interest on the X chromosome and other genes responsible for diseases with unequal gender distribution.

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