Monday, March 11, 2019

Stellar Biotechnologies Merges With Edesa Biotech

Port Hueneme-based Stellar Biotechnologies, a manufacturer of proteins used in immunotherapy and immuno-oncology development, said last week it has completed a share exchange agreement with Edesa Biotech, a Canadian company which is developing therapeutics for dermatological and gastrointestinal indications. According to the two Edesa shareholders have agreed to exchange their shares of Edesa for newly-issued common shares of Stellar, making Edesa a wholly-owned subsidiary of Stellar. As a result of the merger, the companies said they will rename the company as Edesa Biotech. Financial details of the deal were not announced. Stellar was advised by H.C. Wainwright & Co. and Greenburg Traurig LLP (USA) and McMillan LLP (Canada). Edesa was advised by Fasken Martineau DuMoulin LLP (Canada) and Stubbs Alderton & Markiles, LLP (USA).