Trimeris acquisition offer extended to Dec. 28 :: Editor’s Blog at Local Tech Wire

Updated Nov. 17, 2009 at 5:01 p.m.

Trimeris acquisition offer extended to Dec. 28

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DURHAM, N.C. — Trimeris (Nasdaq: TRMS) and the Korean company that is poised to buy the drug developer have agreed to extend an offer for Trimeris shares until Dec. 28, and Trimeris will get $12 million it was due if the deal fell through.

Arigene Co. Ltd. offered $3.60 a share for Trimeris in early October, and the deadline for closing the deal was Monday evening. Arigene said it had received offers for 82.7 percent of Trimeris' shares by then.

The new deadline is 5 p.m. Eastern Standard Time on Dec. 28.

Trimeris and Arigene noted in their announcement that Arigene agrees to go through with the purchase regardless of anything that happens at Trimeris between now and the deadline.

Trimeris is the developer of the HIV drug Fuzeon. Its stock was up over 5 percent Tuesday to $3.13 a share at the market's close.

Arigene develops, manufactures and markets Ubiquitous Healthcare Systems (U-Healthcare) and related medical equipment in Korea. Acquiring Trimeris is an extension into biotech.