GARDANT PHARMACEUTICALS SIGNS AGREEMENT TO BE ACQUIRED BY SWITCH PHARMA

Gardant Pharmaceuticals announced it has signed an agreement to be acquired by Switch Pharma Ltd. Shares of Switch Pharma Ltd., which is currently in the process of going public in London, will be issued to acquire Gardant Pharmaceuticals. Pursuant to the agreement, the Switch Pharma Ltd. shares issued in the transaction must be trading for at least $1.38 per share when the shares of Switch Pharma Ltd. commence trading publicly in London. Shareholders of Gardant will receive one share of Switch Pharma for every Gardant share owned. The transaction is expected to close on September 30th subject to requisite approvals.
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