Infinity And MEI Re-evaluate Business Plans After Merger Falls Through
MEI shareholders declined to approve the all-stock merger that would have combined the companies’ cancer pipelines.
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Public Company Edition: UroGen raised $120m in a private placement of ordinary shares. Also, Verrica entered into a debt financing for up to $125m upon approval of Ycanth for molluscum contagiosum and job cuts were announced by Homology, Mersana, Infinity and others.
Merger plans follow MEI’s recent decision to shelve its own PI3K inhibitor due to class safety concerns. Combined firm will have three clinical oncology candidates, runway into 2025.