At the close of the merger, currently expected in September 1999, the combined Corixa and RIBI product portfolio is expected to include nine programs in clinical development, 15 preclinical or discovery programs and six corporate partnerships focusing on cancer, infectious disease or autoimmune disease.
MPL(TM) and DETOX(TM), another core RIBI adjuvant, complement our existing programs in cancer, infectious disease and autoimmune disease.
RIBI common stock will be converted into Corixa common stock using a fixed exchange ratio of 0.
The effectiveness of the merger is subject to certain customary closing conditions, including the approval of the merger by the stockholders of Corixa and RIBI and the expiration or early termination of the required waiting period under Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended.
We are delighted by this opportunity to marry RIBI technology with Corixa science and capitalize on the synergy between the two companies," stated Robert E.
Ribis commented, "I have worked closely with Tony for many years, and know first-hand of his many talents, leadership skills, and keen insights into the casino industry.
Ribis also announced the appointment of Phil Juliano to the position of Executive Vice President for the Hilton Operation.