Financings in Brief: Atrix
This article was originally published in The Gray Sheet
Executive Summary
Atrix: Proposes to merge with Vipont Royalty Income Fund, Ltd. in a stock-swap transaction valued at $3.5 mil. Under terms of the deal, Fort Collins, Colorado-based development stage firm Atrix would exchange less than 9% of its 7.9 mil. outstanding shares for Vipont. Vipont, a funding vehicle formed in 1987, is jointly developing with Atrix the Atrigel injectable gel drug delivery system for use with the drug doxycycline to treat periodontal disease; Phase III trials are ongoing, a new drug application submission to FDA is anticipated in the first quarter of 1997. Atrix' second product, Atrisorb, is a guided tissue regeneration barrier for use in conjunction with gum surgery to promote tissue regeneration and treat periodontitis; a 510(k) submission is anticipated by year end. Vipont will approve or disapprove the plan Sept. 27...