PALO ALTO, Calif., Jan. 04, 2021 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) today announced that leading proxy advisory firm Institutional Shareholder Services (“ISS”) recommends that BridgeBio stockholders and Eidos Therapeutics, Inc. (Nasdaq: EIDX) stockholders vote “FOR” BridgeBio’s proposed merger with Eidos and each of the other proposals to be considered at both companies’ virtual special meetings to be held on January 19, 2021.
PALO ALTO, Calif. and SAN FRANCISCO, Oct. 05, 2020 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a company focused on genetic diseases, and Eidos Therapeutics, Inc. (Nasdaq: EIDX), a company focused on transthyretin (TTR) amyloidosis (ATTR), today announced they have entered into a definitive agreement under which BridgeBio has agreed to acquire all of the outstanding common stock of Eidos it does not already own, representing approximately 36.3% of Eidos’ outstanding shares. Eidos stockholders will have the right to receive in the transaction, at their election, either 1.85 shares of BridgeBio common stock or $73.26 in cash per Eidos share in the transaction, up to an aggregate maximum of $175 million of cash. The agreement was unanimously approved by BridgeBio’s Board of Directors and was approved by Eidos’ Board of Directors based upon the unanimous recommendation of a special committee of independent directors of Eidos.
SAN FRANCISCO, Aug. 07, 2020 (GLOBE NEWSWIRE) -- Eidos Therapeutics, Inc. (Nasdaq: EIDX), a clinical stage biopharmaceutical company focused on addressing the large and growing unmet need in diseases caused by transthyretin (TTR) amyloidosis (ATTR), today announced that it has added two new independent directors to its board who bring deep commercial and strategic experience to the company: Suzanne Sawochka Hooper, the former executive vice president and general counsel of Jazz Pharmaceuticals, and Duke Rohlen, the CEO and managing partner of Ajax Health.
BridgeBio Pharma has scrapped plans to buy out its subsidiary Eidos Therapeutics. The planned deal hit a wall when a special committee set up by Eidos turned down BridgeBio’s third and final offer.
So how does a small cap biotech go toe-to-toe with the likes of Pfizer, when the pharma giant is lining up for one of the most carefully watched FDA decisions in biopharma?
The European Medicines Agency has approved a label extension for UCB’s Cimzia allowing its use to treat adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy.
Rare disease biotech Eidos Therapeutics priced its IPO at $17 a share, hauling in about $106.3 million to push its treatment for transthyretin (TTR) amyloidosis through the clinic. The offering comes on the heels of a $64 million series B round, completed in April.
Eidos Therapeutics, which is developing a novel oral therapy for rare neurodegenerative diseases, announced terms for its IPO on Friday.