The shareholders of Xeris Pharmaceuticals, on 15th of September, have voted in favor of the acquisition of Strongbridge Biopharma, which the company had proposed earlier.
At a meeting session that was held a day before, 97% of the votes casted by the shareholders were in support of the proposed acquisition that constitutes up to 59% of the Xeris’ total outstanding shares of common stock. The company will soon file a Form 8-K revealing the complete voting details.
The proposal of acquisition had already been approved by stakeholders of Strongbridge Biopharma. The acquisition will be closed upon merger between the two companies operating as a single entity which will be named as Xeris Biopharma Holdings Inc.
The closing of the acquisition is anticipated in the fourth quarter, this year, following the necessary customary closing conditions.
Paul R. Edick, Chairperson of the Board of Directors and CEO of Xeris Pharmaceuticals, thanked all the stakeholders of both the companies for supporting the acquisition proposal. For the future of this joint venture, he is optimistic that the merger of Xeris and Strongbridge as Xeris Biopharma Holdings will lead the integrated company as an innovative leader in the fields of endocrinology and neurology, providing a diversified technology platform to meet the unserved needs of the patients.