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Unum Therapeutics Acquires Kiq in Stock-for-Stock Transaction.

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MANews-(C)2009-2020

US biopharmaceutical company Unum Therapeutics Inc. (NASDAQ: UMRX) has completed the acquisition of biotechnology company Kiq LLC, in a stock-for-stock transaction, the company said.

The acquisition of Kiq was structured as a stock-for-stock transaction whereby all of Kiq's outstanding equity interests were exchanged for a combination of shares of Unum common stock and shares series A preferred stock.

Concurrently with the acquisition of Kiq, Unum entered into definitive agreements for a PIPE investment with existing and new investors to raise USD 104.4m in which the investors will be issued shares of series A preferred stock at a price of USD 880 per share (or, USD 0.88 per share on an as-converted-to-common basis).

Concurrent with the acquisition of Kiq, Unum entered into a definitive agreement for the sale of series A non-voting convertible preferred stock in a private placement to a group of institutional accredited investors led by Fairmount Funds Management LLC, with participation from Venrock Healthcare Capital Partners, BVF Partners L.P., Atlas Venture, Acorn Bioventures, Perceptive Advisor's LLC, RTW Investments, OrbiMed, Samsara BioCapital, Logos Capital, Ally Bridge Group and Commodore Capital, as well as additional undisclosed institutional investors.

The acquisition includes lead clinical-stage compound PLX9486, a potent and selective KIT D816V inhibitor, positioning the company to advance precision kinase inhibitors.

The private placement is expected to result in gross proceeds to Unum of approximately USD104.4 m before deducting placement agent and other offering expenses. The proceeds from the private placement...

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