BRIEF-Prometic Life Sciences to acquire Telesta Therapeutics

Wed Aug 24, 2016 6:18am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Aug 24 (Reuters) - ProMetic Life Sciences Inc :

* ProMetic announces agreement to acquire Telesta Therapeutics Inc in all share transaction

* Will acquire all of share capital of Telesta at a share price of $0.14 payable in ProMetic common shares

* Deal does not materially affect ProMetic's EBITDA and operating cash flows

* Agreement also contains no shop provisions and a mutual $2.5 million breakup fee payable by Telesta or ProMetic in specified circumstances Source text for Eikon: Further company coverage: