ARTICLE | Finance
Back door listing
Why Synlogic’s investors took the company public through the back door
May 19, 2017 6:24 PM UTC
Allowing management to focus on drug development while avoiding the uncertainty of the IPO process is prompting a who’s who of biotech investors to take synthetic biology company Synlogic Inc. public via a back door listing.
On May 16, Synlogic said it will acquire Mirna Therapeutics Inc. (NASDAQ:MIRN) through a reverse merger. The newco will keep Synlogic’s name, management and clinical programs. Synlogic investors are expected to have roughly 83% ownership in the new public entity...