Here’s what you should know:
1. Monster Digital will merge with the pharmaceutical company this year. If approved, the combined companies will advance a late-stage drug for celiac disease.
2. Monster shareholders will own a combined 9 percent of Innovate while Innovate shareholders will own a combined 91 percent of Monster, if the deal goes through.
3. The combined companies will retain the Innovate Biopharmaceuticals moniker, but will trade on the stock market under a new symbol.
4. Innovate Biopharmaceuticals is a biotechnology company that develops autoimmune and inflammation therapeutic drugs. In addition to the aforementioned therapy for celiac disease, Innovate is developing an ulcerative colitis therapy.
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