Brief: Yumanity Therapeutics To Merge With Kineta In All-Stock Deal

Kineta

06/06/2022 11:49

June 6 (Reuters) - Yumanity Therapeutics Inc  YMTX.O :
    * YUMANITY THERAPEUTICS ANNOUNCES DEFINITIVE AGREEMENTS FOR
TWO
STRATEGIC TRANSACTIONS
    * YUMANITY THERAPEUTICS - TO SELL CLINICAL-STAGE PRODUCT
CANDIDATE
YTX-7739 & ITS UNPARTNERED DISCOVERY-STAGE NEUROSCIENCE PRODUCT
CANDIDATES & TARGETS
    * YUMANITY - SALE OF YTX-7739 & UNPARTNERED DISCOVERY-STAGE
NEUROSCIENCE PRODUCT CANDIDATES AND TARGETS TO JANSSEN
PHARMACEUTICA NV FOR $26 MILLION IN CASH
    * YUMANITY THERAPEUTICS INC - KINETA, INC., A PRIVATE
IMMUNO-ONCOLOGY COMPANY, TO MERGE WITH YUMANITY IN AN ALL-STOCK
TRANSACTION
    * YUMANITY - UNDER PROPOSED DEAL WITH JANSSEN, CO PLANS TO
DISTRIBUTE ANY REMAINING AVAILABLE CASH PROCEEDS TO STOCKHOLDERS
VIA ONE-TIME DIVIDEND
    * YUMANITY - COMBINED PUBLICLY TRADED CO TO BE RE-NAMED
KINETA,
INC., THAT WILL FOCUS ON IMMUNO-ONCOLOGY, CONTINUE CO'S ONGOING
COLLABORATION WITH MERCK
    * YUMANITY THERAPEUTICS INC - CURRENT KINETA STOCKHOLDERS
ARE
EXPECTED TO OWN APPROXIMATELY 85% OF COMBINED COMPANY
    * YUMANITY THERAPEUTICS - COMBINED CO EXPECTS TO RAISE
CONCURRENT
PRIVATE INVESTMENT IN PUBLIC EQUITY LED BY GROWTH & VALUE
DEVELOPMENT INC
    * YUMANITY THERAPEUTICS INC - YUMANITY BOARD OF DIRECTORS
HAS
UNANIMOUSLY APPROVED BOTH DEFINITIVE AGREEMENTS
    * YUMANITY THERAPEUTICS INC - KINETA BOARD OF DIRECTORS HAS
UNANIMOUSLY APPROVED DEFINITIVE MERGER AGREEMENT WITH YUMANITY
    * YUMANITY THERAPEUTICS INC - SHAWN IADONATO, WILL SERVE AS
CEO
AND CRAIG PHILIPS WILL SERVE AS PRESIDENT OF COMBINED CO
    * YUMANITY THERAPEUTICS - UNDER AGREEMENT BOARD OF COMBINED
CO TO
COMPRISE 6 MEMBERS, 3 DESIGNATED BY KINETA AND 2 DESIGNATED BY
CURRENT YUMANITY BOARD

Source text for Eikon:  ID:nGNX6ZPQFz 
Further company coverage:  YMTX.O 

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