Clementia Pharmaceuticals Inc. Shareholders Approve Plan of Arrangement With Ipsen S.A.
April 9, 2019 at 12:29 PM EDT
MONTREAL, April 09, 2019 (GLOBE NEWSWIRE) — Clementia Pharmaceuticals Inc.(Nasdaq: CMTA) (“Clementia” or the “Corporation”) is pleased to announce that its shareholders have approved the previously announced statutory plan of arrangement under the Canada Business Corporations Act pursuant to which a wholly-owned subsidiary of Ipsen S.A. will acquire all of the issued and outstanding common shares of Clementia for US$25.00 per share in cash upfront on completion of the transaction plus a deferred payment on the achievement of a future regulatory milestone in the form of a contingent value right of US$6.00 per share payable upon the U.S. Food and Drug Administration’s (FDA) acceptance of submission of a new drug application (NDA) filing for palovarotene for the treatment of multiple osteochondromas (MO) on or prior to December 31, 2024.
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