deals, Biotech, Stocks

Dynogen, Apex Call Off Reverse Merger

Rebecca Zacks 4/17/08

Waltham, MA-based Dynogen and Apex Bioventures Acquisition (AMEX: PEX) have agreed to call off the $98 million reverse merger they originally announced in February. Citing market conditions, the firms said the terminating the merger agreement was in the best interests of both companies. Dynogen will seek alternative means of financing its programs, which include clinical-stage work on drugs for irritable bowel syndrome and nocturnal gastroesophageal reflux disease.