Discussions on a merger between NextCell AB and Idogen AB are suspended
The discussions that took place between the boards of NextCell Pharma AB ("NextCell") and Idogen AB ("Idogen") (together "The Companies"), regarding a possible merger, are suspended. Although the discussions have been characterized by pragmatism, but the boards of the companies have concluded that both companies will benefit from continuing to pursue their own activities.
Even though the discussions regarding a possible merger have now been suspended, the companies choose to continue discussions on how the companies could further cooperate in the future.
"We saw it as commercially logica to try to combine the two cell therapy companies, and perhaps we may find other means to collaborate," says the Chairman of NextCell, Anders Essen-Möller in a comment.
"Although we found that we were in agreement on some issues, we were unable to create a structure that was satisfactory for both parties" says Agneta Edberg, chairwoman of the Idogen board, adding "Idogen looks forward to discussing possible areas for collaboration with NextCell. Whilst at the same time we are continuing to achieve the next important interim goal in the development of our cell therapies”.
This information is the information that NextCell Pharma AB is required to disclose under the EU Market Abuse Regulation. The information was provided by the below contact person for publication on 08 May 2019.
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For more information about NextCell Pharma AB, please contact:
Mathias Svahn, CEO
Sofia Fredrikson, CFO
Phone: 08-735 5595
About NextCell Pharma AB:
Stem cells are expected to change the way how many of today's life-threatening diseases are treated. NextCell Pharma AB develops ProTrans, a drug candidate consisting of stem cells for the primary treatment of autoimmune and inflammatory diseases as well as for use in kidney transplants. ProTrans consists of selected stem cells derived from the umbilical cord tissue with NextCell Pharma AB's proprietary method. In addition, the company has a service called Cellaviva, Sweden's first and only IVO-approved stem cell bank for the family-saving of stem cells from umbilical cord blood and umbilical cord tissue.