Stealthy NY Startup Rocket Pharma Merges With Inotek, Heads to Nasdaq11-Sep-2017
A recent article on Rocket Pharmaceuticals merger announcement:
Rocket Pharmaceuticals, a stealthy gene therapy startup in New York City, has made its first splash.
Through a merger with struggling Inotek Pharmaceuticals (NASDAQ: ITEK), Rocket, a company developing treatments for a variety of rare blood diseases, has taken itself public. Rocket shareholders are expected to own 81 percent of the combined company, with Inotek stockholders getting the remaining 19 percent. The actual amount each group gets depends on the amount of cash Inotek has on hand at when the deal closes, which is expected in early 2018.
Rocket says it aims to use ex vivo gene therapy to go after rare bone marrow disorders like Fanconi anemia, Leukocyte adhesion deficiency-1, pyruvate kinase deficiency, and the inherited bone disease infantile malignant osteopetrosis. Rocket is targeting an unspecified rare pediatric disease with its in vivo approach.