NEW YORK (GenomeWeb News) – Eureka Genomics plans to merge with Nanobac Pharmaceuticals under a stock and cash deal, the bioinformatics company said today.

Under a memorandum of understanding, Eureka stockholders will receive new shares of Nanobac common stock and own 85 percent of the combined company, which will operate under the Eureka Genomics name. Nanobac has already provided Eureka with initial funds, and the deal is expected to close in the second quarter of 2009.

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