Neoleukin Therapeutics, a biopharmaceutical company utilizing sophisticated computational methods to design de novo protein therapeutics, announced the completion of the previously disclosed merger transaction with Aquinox Pharmaceuticals.
Aquinox Pharmaceuticals, Inc. will be renamed Neoleukin Therapeutics, Inc. and will trade under the new ticker symbol “NLTX” beginning on Monday, August 12, 2019, on the Nasdaq Global Market.
Following the close of the transaction, and after giving effect to conversion of preferred shares into common subject to a stockholder vote, there are expected to be 38.3 million total shares of common stock outstanding.
The corporate headquarters are now located in Seattle, Washington at Neoleukin’s existing facility. As of June 30, 2019, after giving effect to the merger, including merger-related expenses, the company has approximately $65 million in cash and cash equivalents, which it believes will be sufficient to fund operations through 2021.
Neoleukin is a biopharmaceutical company creating next generation immunotherapies using de novo protein design technology.
Neoleukin uses sophisticated computational methods to design proteins that demonstrate specific pharmaceutical properties that provide potentially superior therapeutic benefit over native proteins. Neoleukin’s lead product candidate, NL-201, is a combined IL-2 and IL-15 agonist designed to eliminate alpha receptor binding.
Source: Company Press Release