SWITZERLAND - Novartis-backed Evolva acquires Arpida; prepares listing

The merger will see Evolva shareholders shareholders gain two thirds of the shares of the combined entity, with Arpida's shareholders getting one third, though this allocation is subject to a round of equity fund raising for Evolva.

Arpida (SWX: ARPN) is a biopharmaceutical company headquartered in Reinach, near Basel, with operations in Switzerland and the USA. It focuses on developing novel drugs that seek to overcome the growing problem of microbial resistance. Its share price plunged after failing to gain regulatory approval for its lead drug, an intravenous antibiotic.

Founded in 2004, Evolva currently employs 75 people and has a catalogue of substances against renal disease, arterial thrombosis, systemic and other fungal infections, influenza and Ebola in various stages of development. It is based in Allschwil and has offices in the US, Denmark, and India.

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• Topics
• Expansion
• DACH