closes the deal, it would be owned by FCB I Holdings Inc.
The completion of the deal follows approval by CPEX
shareholders last month.
and FCB had entered into a definitive merger agreement on 4 January 2011, under which FCB would acquire all of the outstanding common stock of CPEX
At the end of the trial, CPEX
conducted a meal challenge which demonstrated significant reductions in the maximum concentrations of serum glucose in the Nasulin group versus placebo, as well as significant reductions in the overall glucose load during 60, 90 and 240 minutes after dosing.
RBC Capital Markets, LLC and Goodwin Procter LLP served as financial and legal advisors, respectively, to CPEX
The cash price per share is a premium of 142% over CPEX
closing price on 7 January, the day before a third party announced intention to make an unsolicited bid for the company, CPEX
The transaction price reportedly represents a 142% premium over the price of CPEX
shares on 7 January 2010, the day prior to the date a third party publicly stated its intention to make an unsolicited offer for the company.
said that earlier clinical studies of Nasulin indicated that the company's intranasal insulin candidate achieved a faster time to peak plasma insulin levels when compared to other approved rapid-acting insulin therapies, thereby more closely mimicking the natural response of the pancreas to meals.
As previously announced, CPEX
and FCB entered into a definitive merger agreement on January 4, 2011, under which FCB will acquire all of the outstanding common stock of CPEX
Club Pilates is a terrific addition to the Cobble Hill section of Brooklyn", said Ryan Condren, Managing Director of the CPEX
Retail Leasing Team.
The board of directors of CPEX
, consistent with its fiduciary duties and the merger agreement with FCB I Holdings Inc, is expected to review the terms of the revised Mangrove letter as soon as practicable.
The board of US speciality drugs maker CPEX
) on Thursday reaffirmed its support for the USD27.