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LONDON - Poolbeg Pharma PLC and HOOKIPA Pharma Inc. have provided an update on their potential combination, following the initial announcement made on January 2, 2025. Significant HOOKIPA shareholder, Gilead Sciences Inc . (NASDAQ:GILD), has expressed its intention to support the proposed merger in line with the HOOKIPA Board's recommendation, should a formal offer be presented.
Gilead, which holds a 19.4% stake in HOOKIPA, has also committed to participating in the associated fundraising efforts, in accordance with its existing contractual obligations. HOOKIPA has revised its fundraising strategy, now aiming for a 100% primary private placement to raise in excess of $30 million, an increase from the previously announced target of up to $30 million.
Oppenheimer & Co. Inc. has been appointed by HOOKIPA as the placement agent for this private placement fundraise. Details of the revised fundraise will be made available on the websites of both companies soon.
The discussions regarding the potential combination remain non-binding and non-exclusive, and there is no certainty that a definitive offer will be made or that any transaction will be finalized. The information in this article is based on a press release statement.
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