Signal, miRagen deal
miRagen will merge with Signal to form a publicly traded microRNA company focused on hematological malignancies, pathological fibrosis and cardiovascular and neurodegenerative diseases. The surviving entity will retain miRagen's name and trade on NASDAQ. The companies expect the deal to close next quarter.
A syndicate of existing and new miRagen investors will invest about $40 million in the company just prior to the merger's close. The syndicate includes Fidelity, Brace Pharma Capital, Atlas Venture, Boulder Ventures, JAFCO, MP Healthcare Venture Management, MRL Ventures and Remeditex Ventures. Following the close, miRagen shareholders will hold about 69% of the combined company, while the investor syndicate will own 27% and Signal's shareholders will own 4%...