Chromos to acquire Anosys, Inc.
Chromos Molecular Systems Inc. ("Chromos") announced it has entered into a Letter of Intent to acquire Anosys Inc. ("Anosys"). Chromos will issue shares, warrants and/or convertible notes to acquire all outstanding shares of Anosys. Chromos expects to finalize a definitive agreement for the transaction before March 25th. Completion of the acquisition is subject to satisfactory due diligence, execution of definitive agreements, and approval by Anosys shareholders and regulatory authorities.
"The acquisition of Anosys will provide a cash infusion, extend our operating runway and expand our shareholder base," said Alistair Duncan, President and CEO of Chromos. "The transaction will also enhance our partnering opportunities, in particular with the cancer vaccine program, which has completed Phase I clinical trials in the United States and Europe. In addition, the Anosys technology will complement our strategy of developing treatments for cancer and infectious diseases."
Philippe M. Maitre, President and CEO of Anosys added, "I see the business combination of Chromos and Anosys as highly synergistic. Both companies have technologies that can be deployed to support the large and growing biopharmaceutical industry designing and producing monoclonal antibodies and other biologics. Both companies also have promising therapeutic programs for infectious diseases and cancer. This business combination enables us to fully and quickly develop the outstanding potential of the Anosys Exosome Technology platform."
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