trending Market Intelligence /marketintelligence/en/news-insights/trending/7RNqHc0FdSfqFfLYW7DnNA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Vical to merge with medical dermatology company

Blog

Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9

Blog

COVID-19 Impact & Recovery: Private Equity

Blog

Banking Essentials Newsletter: April Edition - Part 2


Vical to merge with medical dermatology company

San Diego-based Vical Inc. is merging with privately held Brickell Biotech Inc.

Brickell Biotech is a Boulder, Colo.-based pharmaceutical company developing prescription therapeutics to treat skin diseases. The company's drug pipeline includes potential treatments for excessive sweating or hyperhidrosis, cutaneous T-cell lymphoma, psoriasis and other prevalent severe skin diseases.

Under the deal, existing shareholders of Vical and Brickell will own 40% and 60% of the combined company, respectively.

The two companies' boards have approved the merger.

Completion of the transaction is expected to occur in the third quarter of 2019, subject to customary closing conditions, including Vical stockholders' approval and satisfaction of a $25 million near-term research and development funding agreement between Brickell and an affiliate of private equity and venture capital firm NovaQuest Capital Management LLC.

The merged entity will operate as Brickell Biotech Inc. and trade on the Nasdaq Capital Market under a new ticker.

MTS Health Partners LP served as financial adviser, with Cooley LLP serving as legal counsel to Vical. Meanwhile, BMO Capital Markets is the financial adviser of Brickell, with Mayer Brown LLP as legal counsel. Wyrick Robbins Yates & Ponton LLP served as legal counsel to NovaQuest.