OSE Pharma and Effimune merger to create OSE Immunotherapeutics

OSE Pharma expected to be renamed OSE Immunotherapeutics and transfer headquarters from Paris to Nantes

Immuno-oncology company OSE Pharma has signed a merger treaty with Effimune, a biotech company specialised in immune regulation, to create OSE Immunotherapeutics, a player in the field of activation and regulation immunotherapy. The terms of the merger will be submitted for approval to the shareholders of the two companies during the next General Meetings at the end of May.

The treaty confirms the terms of the proposed merger transaction that was announced in February. After completion of the merger, the shareholders of OSE Pharma will hold approximately 71% of the capital of the merged entity and the shareholders of Effimune will own approximately 29%. Shareholders of Effimune will receive 1.93 newly issued shares of OSE Pharma (corresponding to an issuing of approximately 4 million OSE Pharma new shares) in exchange for each one held share of Effimune.

To reflect the change in company profile brought about by the merger, it is expected that OSE Pharma will be renamed OSE Immunotherapeutics and the headquarters will be transferred from Paris to Nantes, reflecting Effimune’s strong academic establishment.