Equillium to Acquire Metacrine in All-Stock Transaction
Expected to add $33 million in cash at closing to Equillium's balance sheet and extend operating runway into 2024
Acquisition includes novel drug candidate MET642, an orally delivered Phase 2 ready FXR agonist for ulcerative colitis
Preston Klassen, M.D., MHS, to be appointed to the Board of Directors
Equillium, Inc. (NASDAQ:EQ) and Metacrine Inc. (NASDAQ:MTCR), today announced that the two companies have entered into a definitive merger agreement pursuant to which Equillium will acquire Metacrine in an all-stock transaction. The transaction is anticipated to add $33 million in cash to Equillium's balance sheet at closing, which is expected to extend the company's cash runway into 2024.
