- Idera Pharmaceuticals ( NASDAQ: IDRA ) has completed the acquisition of privately-held biotechnology company Aceragen in a stock-for-stock transaction.
- The acquisition, not subject to the approval of Idera stockholders, was unanimously approved by the board of both the companies.
- The combined cash of the two companies is expected help in funding the advancement of Aceragen's pipeline through 2023.
- Idera's former CEO, Vincent Milano, has been named board chair.
- Aceragen's former CEO, John Taylor, succeeds Milano.
- Additionally, Aceragen's former chief medical officer, Carl Kraus, will serve in that role for Idera.
- Also, Aceragen's former COO, Daniel Salain, will serve in that role for Idera.
- And, Andy Jordan, Aceragen's former CFO has been appointed chief strategy officer for Idera.
- IDRA shares were trading +19.85% post-market.
- Source: Press Release
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Idera Pharmaceuticals completes acquisition of Aceragen