Biozone Pharmaceuticals, Cocrystal Discovery deal
Cocrystal will merge with Biozone in a stock deal to create Cocrystal Pharma Inc. (Bothell, Wash.). Biozone's shareholders will own 40% of the combined company, and Cocrystal's shareholders will own the remaining 60%. Gary Wilcox, CEO and chairman of Cocrystal Discovery, will become CEO and chairman of the combined company, which will initially continue to trade on the OTCBB under the ticker "BZNE." The merger is expected to close at year end.
Biozone develops and manufactures OTC drugs on behalf of healthcare product marketing companies and national retailers. Cocrystal is developing antivirals against HCV, influenza, human rhinovirus, dengue and norovirus. Cocrystal's HCV program targets two replication enzymes, with its polymerase program at lead optimization and its helicase program at lead identification stage. ...