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Shareholders OK Genome Therapeutics, Genesoft Merger

NEW YORK, Feb. 2 (GenomeWeb News) - Genome Therapeutics and Genesoft Pharmaceuticals said today that their shareholders approved the proposed merger of the two companies at two separate special meetings.

 

The companies said that they expect to close the transaction "as soon as practicable," but noted that the deal is still subject to certain conditions including the raising of $32 million to fund the combined entity.

 

The all-stock merger was first announced in November. The US Securities and Exchange Commission cleared a registration statement related to the merger in late December.

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