Baudax Bio (NASDAQ:BXRX) shares are on an upward trajectory today after the pharmaceutical company announced the acquisition of biotechnology company TeraImmune. The latter is focused on bringing novel Treg-based cell therapies to market for the treatment of autoimmune diseases
Importantly, the strategic move expands Baudax’s portfolio with the addition of TeraImmune’s TI-168 which is targeted for the treatment of Hemophilia A.
Moreover, Baudax noted that TeraImmune’s platform can be applied in multiple indications including Myasthenia Gravis, pemphigus Vulgaris, multiple sclerosis as well as other auto-immune conditions.
The transaction is a stock-for-stock deal with current Baudax shareholders expected to own nearly 18% of the combined entity. The acquisition has received the blessings of the Board of Directors of both companies and is not subject to approval from Baudax investors.
Today’s ~25% fireworks in Baudax shares come after a nearly 98.5% cliff dive over the past year.
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