%%%%++Cellegy Pharma Announces Signing of Definitive Merger Agreement - 500 Beiträge pro Seite

[MagicWeasel]

Dürfte heute komplett durchstarten.


Cellegy Pharmaceuticals Announces Signing of Definitive Merger Agreement
(PR Newswire 02.13 03:01:05)

QUAKERTOWN, Pa., Feb. 12 /PRNewswire-FirstCall/ -- Cellegy
Pharmaceuticals, Inc. (OTC Bulletin Board: CLGY) today announced that it has
entered into a definitive merger agreement providing for the acquisition of
Cellegy by Adamis Pharmaceuticals Corporation. Adamis is a privately held
specialty pharmaceuticals company that is engaged in the research, development
and commercialization of products for the prevention of viral infections,
including influenza. Adamis currently markets and sells a line of
preion products for a variety of allergy, respiratory disease and
pediatric conditions, and also owns a GMP certified independent contract
packager of pharmaceutical and nutraceutical products. Adamis\' chief
executive officer, Dr. Dennis Carlo, is expected to become the chief executive
officer of the combined company. Dr. Carlo is a veteran of the pharmaceutical
and biotechnology industry, having previously served as CEO of publicly traded
Immune Response Corporation, president of Telos Pharmaceuticals, and Vice
President of Research and Development and Therapeutic manufacturing of
Hybritech Inc. prior to its acquisition by Eli Lilly & Co.
The transaction was unanimously approved by the boards of directors of
both companies and is anticipated to close during the second or third quarter
of 2008, subject to the filing of a registration statement and proxy statement
with the Securities and Exchange Commission, the approval of Adamis\' and
Cellegy\'s respective stockholders at stockholder meetings following
distribution of a definitive proxy statement, and other customary closing
conditions. Holders of approximately 40% of Cellegy\'s outstanding common
stock have entered into voting agreements pursuant to which they agreed to
vote their shares in favor of the transaction. The combined company expects
to continue to be publicly traded after completion of the merger, although
under a different corporate name.
\"The merger of Cellegy and Adamis will create a new specialty
pharmaceutical company focused on the development and commercialization of
therapeutic products for a variety of viral diseases, including influenza,\"
said Mr. Williams, Cellegy\'s CEO. \"We like the fact that in addition to
technologies in development that we believe are promising, Adamis has allergy
and respiratory products already being sold in the U.S. marketplace, and a
contract packaging company that provides a source of current revenue and the
potential for future revenue and income growth,\" said Mr. Williams.
\"This merger allows us to fulfill our strategic objective of building a
publicly traded company that combines biopharmaceutical research and
development with the financial stability of a company producing immediate
revenues from the sale of specialty pharmaceutical products and from the
packaging of drugs for major pharmaceutical distributors. We believe the
concept makes sense both financially and operationally,\" said Dr. Carlo.
Cellegy estimates that its stockholders will hold between approximately 4%
to 6% of the total number of outstanding shares immediately after the merger,
and Adamis\' stockholders are expected to hold in excess of 94% of the total
number of outstanding shares of the combined companies. If the transaction is
approved by the stockholders, before the closing of the merger Cellegy will
implement a reverse stock split of its common stock so that the outstanding
Cellegy shares will be converted into a number of shares equal to the sum of
3,000,000 plus the amount of Cellegy\'s net working capital at the time of the
closing of the merger divided by $0.50. It is estimated based on assumptions
that the reverse split will be between 8.5 to 1 and 9.945 to 1. The actual
amounts and percentages will depend on many factors, and actual amounts and
percentages could be higher or lower. There are currently approximately
29.8 million outstanding Cellegy shares.
At the effective time of the merger, each outstanding share of Adamis
common stock will be converted into the right to receive one (post-reverse
stock split) share of Cellegy common stock (excluding in all cases dissenting
shares), subject to cash payment in lieu of the issuance of fractional shares.
Adamis currently has approximately 50 million outstanding shares of common
stock, excluding options, warrants and convertible securities.
In connection with the signing of the merger agreement, Cellegy also
provided a loan to Adamis in the amount of $500,000 to provide additional
funds to Adamis during the pendency of the merger transaction.
The companies anticipate that in connection with the closing of the
transaction, directors selected by Adamis would assume a majority of the
positions on the combined company\'s board of directors. Richard C. Williams,
Cellegy\'s Chairman and Interim Chief Executive Officer, and current Cellegy
directors John Q. Adams and Robert B. Rothermel are expected to continue as
directors of the combined company.
The merger is intended to qualify for federal income tax purposes as a
tax-free reorganization under the provisions of Section 368(a) of the U.S.
Internal Revenue Code of 1986, as amended.
About Cellegy
Cellegy Pharmaceuticals is a specialty biopharmaceutical company that
specializes in women\'s health. Savvy(R) (C31G vaginal gel), a microbicide gel
product for contraception, is currently undergoing Phase 3 clinical studies in
the United States for contraception.
About Adamis
Adamis is a specialty pharmaceutical company engaged in the research,
development and commercialization of preion medicines for the treatment
of viral infections, including influenza. Adamis also markets several
preion allergy and respiratory products in the United States and is
developing additional product candidates in the allergy and respiratory field.
Adamis also owns a specialty packaging company that provides packaging for
pharmaceutical and nutraceutical products.
.PN RCN.PN

[MagicWeasel]

immer noch pari zu haben und die News kam heute nacht um 3uhr.

[Exploser]

If the transaction isapproved by the stockholders, before the closing of the merger Cellegy willimplement a reverse stock split of its common stock so that the outstanding Cellegy shares will be converted into a number of shares equal to the sum of 3,000,000 plus the amount of Cellegy\'s net working capital at the time of the closing of the merger divided by $0.50. It is estimated based on assumptions that the reverse split will be between 8.5 to 1 and 9.945 to 1.

[Mick1968]

Denke da geht heute einiges die Ami sind ja verrückt nach Merger

[Mick1968]

Schon 44% im Plus

[gled77]

WKN für USA?
Danke!

[Mick1968]

Antwort auf Beitrag Nr.: 33.354.532 von gled77 am 13.02.08 14:32:06

Kürzel CLGY

[Mick1968]

Antwort auf Beitrag Nr.: 33.354.532 von gled77 am 13.02.08 14:32:06

Es fängt langsam an in USA

[gled77]

Antwort auf Beitrag Nr.: 33.356.868 von Mick1968 am 13.02.08 17:06:58

hoffentlich hört es nicht auch gleich wieder auf.....wie weit kann es hochgehen? was meinst du?

[gled77]

na, wo sind die merger-verrückten amerikaner geblieben?...
kann es erst morgen weiter gehen?
oder kommt dann schon der resplit?

[gled77]

guten morgen, liebe sorgen?
wer kann mir erklären, wie es mit dem merger ist?
werden vorher die aktien zusammengelegt und resplittet und wann?
oder warum hat amerika gestern kaum reagiert?
danke!

[Mick1968]

Antwort auf Beitrag Nr.: 33.364.412 von gled77 am 14.02.08 10:36:12

Cellegy Renegotiates Rectogesic(R) EU License and Distribution Agreement With ProStrakan Group plc
HUNTINGDON VALLEY, Pa. /PRNewswire-FirstCall/ -- Cellegy Pharmaceuticals, Inc. (Nasdaq: CLGY) announced today that it has renegotiated the EU License and Distribution Agreement for its product, Rectogesic(R), with its licensee, ProStrakan Group plc. Rectogesic is a 0.4% topical nitroglycerin ointment indicated for the relief of pain associated with chronic anal fissures. In September 2004 , the product was approved by the UK Medicines and Healthcare Products Regulatory Agency (MHRA) for sale in the UK.

Under the terms of the amended agreement, ProStrakan will assume responsibility for all manufacturing and other product support functions and will purchase the product directly from the manufacturer rather than purchasing from Cellegy under the terms of the original agreement. In return, Cellegy will receive a payment of $2 million and may receive future milestone payments of up to $750,000 upon approval of the product in certain major European countries. Cellegy will benefit from reduced infrastructure costs by having its partner take over manufacturing responsibilities.

In December 2004 , Cellegy and ProStrakan entered into an exclusive license agreement for the commercialization of Rectogesic(R) (branded Cellegesic(TM) in the United States ) in Europe . In May 2005 , the product was launched in the United Kingdom , by ProStrakan. ProStrakan will be applying for further approvals of Cellegesic throughout the EU, under the Mutual Recognition Procedure.

About Cellegy

Cellegy Pharmaceuticals is a specialty biopharmaceutical company that develops and commercializes prescription drugs for the treatment of women's health care conditions, including sexual dysfunction, HIV prevention and gastrointestinal disorders. In October 2004 , Cellegy acquired Biosyn, Inc., a privately held biopharmaceutical company in Huntingdon Valley, Pennsylvania. The addition of Biosyn, a leader in the development of novel microbicide gel products for contraception and the reduction in transmission of HIV in women, expands Cellegy's near term product pipeline and complements Cellegy's women's health care focus. Cellegy believes that Savvy(R) (C31G vaginal gel), currently undergoing Phase 3 clinical studies in the United States and Africa , is one of the most clinically advanced products in development for the reduction in transmission of HIV.

Fortigel(TM) (testosterone gel), branded Tostrex(R) outside the United States , is marketed in Sweden for the treatment of male hypogonadism also by ProStrakan. Approvals of Rectogesic and Tostrex by the other member states of the European Union are being sought through the Mutual Recognition Procedure. Cellegesic, for the treatment of anal fissures, was the subject of an FDA Not Approvable letter in December 2004 , was resubmitted to the FDA in April 2005 and is currently under review at the FDA.

Forward Looking Statements

This press release contains forward-looking statements. Investors are cautioned that these forward-looking statements are subject to numerous risks and uncertainties, known and unknown, which could cause actual results and developments to differ materially from those expressed or implied in such statements. Such risks and uncertainties relate to, among other factors: completion, timing and outcome of clinical trials, including primarily the Savvy prevention and contraceptive Phase 3 studies; and the need and ability to complete corporate partnerships and additional financings. For more information regarding risk factors, refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2004 and other filings with the Securities and Exchange Commission.

SOURCE Cellegy Pharmaceuticals, Inc.

CONTACT: Richard C. Williams, chairman and interim CEO, [phone], or Robert J. Caso, vice president, finance and CFO, [phone], ext. 603, both of Cellegy Pharmaceuticals, Inc

[Mick1968]

Cellegy handelt Rectogesic(R) EU Lizenz und Verteilung Vereinbarung mit ProStrakan Gruppe plc HUNTINGDON SENKE, PA /PRNewswire-FirstCall/ -- Cellegy Pharmaceuticals, Inc. neu aus (Nasdaq: CLGY), das heute verkündet wird, daß es die EU Lizenz-und Verteilung Vereinbarung für sein Produkt neu ausgehandelt hat, Rectogesic(R), mit seinem Lizenznehmer, ProStrakan Gruppe plc. Rectogesic ist eine 0.4% aktuelle Nitroglyzerinsalbe, die für die Entlastung der Schmerz verbunden mit chronischen analen Spalten angezeigt wird. Im September 2004, wurde das Produkt durch die BRITISCHE Medizin und die Healthcare Produkt-Aufsichtsbehörde (MHRA) für Verkauf in Großbritannien genehmigt. Unter den Bezeichnungen der geänderten Vereinbarung, übernimmt ProStrakan Verantwortlichkeit für alle Herstellung und andere Produktunterstützungsfunktionen und kauft das Produkt direkt vom Hersteller anstatt vom Kaufen von Cellegy unter den Bezeichnungen der ursprünglichen Vereinbarung. In der Rückkehr empfängt Cellegy eine Zahlung von $2 Million und kann zukünftige Meilensteinzahlungen von bis $750.000 nach Zustimmung des Produktes in bestimmten europäischen hauptsächlichländern empfangen. Cellegy profitiert von verringerten Infrastrukturkosten indem er seinen Partner übernehmen Herstellung Verantwortlichkeiten hat. Im Dezember 2004, schlossen Cellegy und ProStrakan einen Lizenzvertrag für die Kommerzialisierung von Rectogesic(R) (eingebrannt Cellegesic(TM) in den Vereinigten Staaten) in Europa. Im Mai 2005, wurde das Produkt in das Vereinigte Königreich, von ProStrakan ausgestoßen. ProStrakan wird weitere Zustimmungen von Cellegesic während des EUS, unter dem gegenseitige Anerkennung Verfahren beantragen. Über Cellegy Cellegy pharmazeutische Produkte ist eine Spezialgebiet biopharmaceutical Firma, die Verordnungdrogen für die Behandlung der Gesundheitspflegebedingungen der Frauen, einschließlich sexuelle Funktionsstörung, HIV Verhinderung und gastro-intestinale Störungen entwickelt und in den Handel bringt. Im Oktober 2004, erwarb Cellegy Biosyn, Inc., eine privat gehaltene biopharmaceutical Firma in der Huntingdon Senke, Pennsylvania. Die Hinzufügung von Biosyn, ein Führer in der Entwicklung der Roman microbicide Gelprodukte für Empfängnisverhütung und die Verringerung des Getriebes von HIV in den Frauen, erweitert Cellegys nahe Bezeichnung Produktrohrleitung und nzt Gesundheitspflegefokus der Frauen Cellegys ergä. Cellegy glaubt diesem Savvy(R) (C31G vaginalem Gel) und z.Z. macht Phase 3 klinische Studien in den Vereinigten Staaten und im Afrika durch, ist eins der am klinischsten vorgerückten Produkte in der Entwicklung für die Verringerung des Getriebes von HIV. Fortigel(TM) (Testosterongel), eingebrannt Tostrex(R) außerhalb der Vereinigten Staaten, wird in Schweden für die Behandlung des männlichen Hypogonadism auch von ProStrakan vermarktet. Zustimmungen von Rectogesic und von Tostrex durch die anderen Mitgliedsstaaten des europäischen Anschlußes werden durch das gegenseitige Anerkennung Verfahren gesucht. Cellegesic, für die Behandlung der analen Spalte, war das Thema eines FDA nicht Approvable Buchstaben im Dezember 2004, wurde zur FDA im April 2005 wieder unterworfen und ist z.Z. unter Bericht an der FDA. Schauende Vorwärtsaussagen Dieses Pressekommuniquã© enthält das Vorwärts-Schauen von von Aussagen. Investoren werden gewarnt, daß diese Vorwärts-schauenden Aussagen abhängig von zahlreichen den bekannten und unbekannten Gefahren und Ungewißheiten sind, die tatsächliche Resultate und Entwicklungen veranlassen konnten, sich von denen materiell zu unterscheiden, die in solchen Aussagen ausgedrückt wurden oder angedeutet waren. Solche Gefahren und Ungewißheiten beziehen auf, unter anderen Faktoren: Beendigung, TIMING und Resultat der klinischen Versuche, hauptsächlich die Savvy Verhinderung- und empfängnisverhütendes Mittel Phasen3 Studien einschließend; und die Notwendigkeit und die Fähigkeit, korporative Teilhaberschaften und zusätzliche Finanzierungen durchzuführen. Zu mehr Information betreffend ist Gefahr Faktoren, beziehen Sie sich den auf jährlichen Bericht der Firma über Form 10-K für das Jahr beendet Dezember 31, 2004 und andere Archivierungen mit der Sicherheiten und Austausch-Kommission. QUELLCELLEGY Pharmazeutische Produkte, Inc.. KONTAKT: Richard C. Williams, Vorsitzender und ZwischenzeitcCeo, [phone] oder Robert J. Caso, Vizepräsident, Finanzierung und CFO, [phone], Ext.. 603, beide von Cellegy pharmazeutischen Produkten, Inc.