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Neoleukin Therapeutics, Aquinox Pharmaceuticals close merger

Aquinox Pharmaceuticals Inc. completed its planned merger with private biopharmaceutical company Neoleukin Therapeutics Inc.

As part of the recently agreed all-stock deal, Aquinox shareholders would own about 61.42% of the combined company, while former shareholders of Neoleukin would own the remaining 38.58% stake.

Vancouver, British Columbia-based Aquinox, which develops treatments for inflammation disorders and blood cancers, will rebrand as Neoleukin Therapeutics Inc.

The combined company, which will have its headquarters in Seattle, is set to start trading on the Nasdaq Global Market under the new ticker NLTX on Aug. 12.

Aquinox noted that it has about $65 million in cash and cash equivalents, which would be enough to fund operations through 2021.