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Compass Therapeutics to Acquire TRIGR Therapeutics in Stock-for-Stock Transaction
Friday 14 May 2021

Massachusetts, US-based clinical-stage biotechnology company Compass Therapeutics, Inc. (OTCQB: CMPX) has agreed to acquire all of the outstanding shares of California-based cancer drug developer TRIGR Therapeutics, Inc., in a stock-for stock transaction, the company said.

Compass acquisition company, LLC, a Compass subsidiary, will acquire TRIGR for an aggregate of 10,265,154 shares of Compass' common stock, issued as unregistered shares in a private placement.

TRIGR shareholders are eligible to receive up to USD 9m, representing earnout payments that depend on certain events, including USD 5m upon BLA approval of CTX-009 in the United States. The transaction is expected to close in the second quarter of 2021.

At the core of this transaction, Compass will obtain global rights to TR009, a novel bispecific antibody and inhibitor of the notch pathway targeting DLL4 and VEGF-A, which has been renamed CTX-009.
Date Published: 14/05/2021