RDD Pharma to acquire Naia Rare Diseases.

RDD Pharma, a company focused on orphan and innovative therapies for gastrointestinal disorders, agreed to acquire Naia Rare Diseases, a biopharmaceutical company developing drugs for Short Bowel Syndrome and other rare gastrointestinal diseases. Financial terms were not disclosed. Closing of the transaction is anticipated to occur after the consummation of the proposed merger of RDD and Innovate Biopharmaceuticals, which will form a combined company intended to be named 9 Meters Biopharma. In exchange, Naia will receive a combination of cash and shares in 9 Meters Biopharma subject to the closing of the combined company. "Combining the pipelines of RDD, Innovate and Naia Rare Diseases into 9 Meters Biopharma would create a next generation gastroenterology company focused on developing treatments for unmet needs in specialty, rare and orphan indications. From Naia's drug candidates to the first-ever Phase 3 registration trial in celiac disease, we expect multiple value creating inflection points over the next 24 months," John Temperato, RDD CEO.