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Targacept reverse merges with Catalyst Biosciences

Executive Summary

Publicly traded Targacept Inc. reverse merged with fellow biotech, privately held Catalyst Biosciences Inc. The combined entity will retain Catalyst's name, will be owned 65% by Catalyst's investors (subject to adjustment), and is expected to have $40mm in cash at closing ($35mm from Targacept and the rest from Catalyst). The new board will have four Catalyst and three Targacept directors.

Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Includes Contract
    • Intra-Biotech Deal
    • Reverse Acquisition

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