BioCentury
ARTICLE | Company News

Hunter Immunology, Probiomics deal

January 2, 2012 8:00 AM UTC

Hunter's board recommended that shareholders accept an October merger offer from probiotics company Probiomics. The stock deal values Hunter, an unlisted public company, at about A$29.7 million ($29.4 million). Details were not disclosed.

Probiomics said both businesses have similar platforms and Hunter's research facilities can develop opportunities for probiotic sales in Australia and the rest of the world. Hunter's HI-1640V, an enteric-coated tablet containing 45 mg of formalin inactivated Haemophilus influenzae, is in Phase IIb testing to treat chronic obstructive pulmonary disease (COPD). Data are expected in 2Q12. Probiomics had A$939,875 ($1 million) in revenues for the 12 months ending June 30, 2011. ...