Lumous Pharma and NewLink Genetics to merge business.

Lumos Pharma, a private clinical-stage biopharmaceutical company, is set to acquire and merge business with NewLink Genetics, a clinical-stage biopharmaceutical company focused on developing novel oncology products for $65m. Under the terms of the agreement, NewLink will issue Lumos Pharma stockholders NewLink common stock in exchange for their shares in Lumos such that Lumos Pharma stockholders will own approximately 50% of NewLink. Immediately following the closing of the merger, Lumos Pharma will become a wholly-owned subsidiary of NewLink, and NewLink will be renamed Lumos Pharma. “Our board and the entire team are pleased to announce this exciting merger with NewLink. Working toward the development and commercialization of novel therapies for rare diseases remains the cornerstone of Lumos Pharma’s strategy. With exciting prospects for the clinic, we are optimistic about what this combined company will achieve,” Rick Hawkins, Lumos Pharma CEO. NewLink Genetics rejects takeover offer by Evercel. NewLink Genetics’ stockholders have voted to approve the issuance of shares in connection with the merger with Lumos Pharma on March 18, 2020.