RDD Pharma entered into a letter of intent to acquire Naia Rare Diseases in a move to boost its gastrointestinal drug pipeline.
What you should know:
1. Naia is developing a short bowel syndrome treatment and has other GI drugs in the pipeline.
2. RDD Pharma expects to close the deal after its merger with Innovate Biopharmaceuticals closes, forming 9 Meters Biopharma.
3. Naia will receive a combination of cash and shares in 9 Meters Biopharma if both deals close.