Synageva to Merge With Trimeris
Lexington, MA-based Synageva BioPharma, a developer of drugs for rare diseases, announced today that it will be merging with Durham, NC-based viral disease drug developer Trimeris (NASDAQ: TRMS) in an all-stock deal. The combined company will be called Synageva BioPharma and will be led by the Synageva management team. The new publicly traded company will include members of Syngeva and Trimeris on its board and will focus on developing novel therapeutics for patients with rare diseases. Synageva raised $25 million in private equity funding earlier this spring.