Endocrine disease therapy developer Millendo, spun out of University of Michigan, will merge with publicly-listed OvaScience, raising a further $30m in the process.
US-listed fertility treatment provider OvaScience has agreed to merge with Millendo Therapeutics, a US-based endocrine disease drug spinout of University of Michigan.
The unified company will take Millendo’s name and OvaScience’s stock listing on the Nasdaq Capital Market. Millendo’s investors will own 80% of the combined company and Ovascience shareholders 20%.
The all-stock deal will be boosted with $30m from investors including spinout-focused investment firm Osage University Partners.
Roche subsidiary Roche Venture Fund, New Enterprise Associates (NEA), Altitude Life Science…
