Biota Holdings Limited focuses on the research and development of new human drugs for the treatment of viral respiratory diseases.
Biota’s marketed products are used for the treatment of influenza along with an influenza diagnostic test kit. The Company is also developing products for the treatment of RSV and rhinovirus.
Small Cap Biota Holding announced that it plans to merge with Nabi Biopharmaceuticals to form a combined company to be listed on Nasdaq.
Chairman Jim Fox said “We believe this is a necessary step to increase our options for the development and commercialization of our product portfolio and will ultimately improve the recognition of the underlying value of our product portfolio for our shareholders.”
Under the merger Biota shareholders will own about 74% of new company, whilst Nabi will own the remaining 26%.