Navigation Links
Anesiva Stockholders Approved Merger With Arcion Therapeutics but Merger Remains Contingent on Other Closing Conditions

SOUTH SAN FRANCISCO, Calif., Dec. 8 /PRNewswire-FirstCall/ -- Anesiva, Inc. (Nasdaq: ANSV) announced today that the stockholders of Anesiva approved the merger with Arcion Therapeutics, Inc. ("Arcion") during its December 3, 2009 shareholder meeting. In connection with the merger, Anesiva stockholders also approved a one-for-forty reverse stock split, which will be effected upon the close of the merger.

Closure of the merger remains contingent upon Anesiva achieving multiple other closing conditions, including: i) working with creditors to settle total outstanding trade payables at $3.5 million or less; ii) resolution on all of its on-going litigation in a manner satisfactory to Arcion; and iii) financing the company by selling new shares of its common stock resulting in gross cash proceeds of at least $20.0 million. On August 5, 2009, Anesiva filed with the Securities and Exchange Commission (the "SEC") on Form 8-K a definitive Agreement and Plan of Merger with Arca Acquisition Corporation, a wholly owned subsidiary of Anesiva, Arcion and, with respect to Articles V and IX only, each of the Arcion stockholders listed on Schedule I thereto (the "Merger Agreement") detailing all of the closing conditions. The Merger Agreement requires that all of the conditions be achieved by December 31, 2009.

About Anesiva

Anesiva seeks to be a leader in the development and commercialization of novel pharmaceutical products for pain management. Anesiva's lead product candidate is Adlea, a novel small molecule formulation of capsaicin that is currently in development for the management of acute pain following orthopedic surgeries. Adlea has been shown in clinical trials to provide extended pain relief after only a single administration in multiple indications for site-specific, acute and chronic, moderate-to-severe pain.

About Arcion

Arcion Therapeutics applies breakthroughs in neuroscience to advance the treatment of chronic pain. The company focuses on innovative topical treatments to provide pain relief with convenient application and reduced systemic side effects. Arcion's product pipeline comprises multiple candidates to treat neuropathic pain.

Forward-Looking Statements

Except for historical information, this press release may be deemed to contain "forward-looking" statements. Words such as "seek" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding expectations as to the completion of the merger and the implementation of the reverse stock split, forecasts of product development and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from those referred to in the forward-looking statements. Such risks include, but are not limited to, the ability of the parties to the merger to satisfy the conditions to closing specified in the Merger Agreement; the risk of whether certain market segments grow as anticipated; clinical trial results; the competitive environment in the biotechnology industry; and whether Anesiva can successfully develop new products and the degree to which these gain market acceptance as well as other risks detailed from time to time in Anesiva's filings with the SEC, including Anesiva's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2008, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K as filed with the SEC. Anesiva expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

SOURCE Anesiva, Inc.

SOURCE Anesiva, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Anesiva Announces Date for 2009 Annual Meeting of Stockholders to Vote on Proposed Merger
2. Anesiva Announces Going Concern Opinion and Nasdaq Notice
3. Anesiva Announces Planned Rights Offering
4. Anesiva Announces May 22, 2008 Presentation at Citi Investment Research Global HealthCare Conference
5. Anesiva and Sigma-Tau Announce Exclusive Marketing and Distribution Agreement for Zingo(TM) in Six European Countries
6. Anesiva Announces Hiring of Sales Force for FDA-Approved Product Zingo(TM)
7. Anesiva Announces Upcoming Webcasts and Conference Participation
8. Anesiva to Announce Third Quarter 2007 Financial Results and Host Webcast Conference Call on November 1, 2007
9. Anesiva to Present at BIO InvestorForum on October 11, 2007
10. Anesiva to Unveil Zingo(TM) Commercialization Plans
11. Small Business Owners and Stockholders Agree on Ten Crucial Health Care Reform Issues, According to New Zogby/O'Leary Poll
Post Your Comments:
(Date:11/25/2015)... ... 2015 , ... The holiday season is jam-packed with family ... of attendees is of the utmost importance. Whether you are cooking at home ... recipes a try this holiday season. , Turkey Croquettes ,     Ingredients: ...
(Date:11/25/2015)... ... 2015 , ... Ministers, senior government and UN agencies, representatives ... of Excellence, and public R&D institutions, civil societies and other partners gathered today ... African Network for Drugs and Diagnostics Innovation, ANDI, Stakeholders Meeting. The three- day ...
(Date:11/25/2015)... ... 25, 2015 , ... Dental professionals who would like to become more proficient ... attend Dr. Mark Iacobelli’s Advanced Implant Mentoring (AIM) CE course. Courses will be held ... the co-founders of Advanced Implant Mentoring (AIM), Dr. Iacobelli and Dr. D’Orazio are proud ...
(Date:11/25/2015)... ... November 25, 2015 , ... Smiles by Stevens ... Bruxism, and moderate facial wrinkling. While many patients are aware of the benefits of ... success Botox® delivers to those suffering with discomfort, soreness, and pain as a result ...
(Date:11/25/2015)... , ... November 25, 2015 , ... “While riding the ... inventor, from Bronx, N.Y. “I thought there had to be a convenient and comfortable ... PROTECTOR. , The PROTECTOR enables disabled individuals to safely travel during cold or inclement ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... 3D bioprinting market is expected ... new report by Grand View Research Inc. Rising prevalence of ... kidney transplantation is expected to boost the market growth, as ... transplantation. --> 3D bioprinting market is expected ... new report by Grand View Research Inc. Rising prevalence of ...
(Date:11/26/2015)... , November 26, 2015 ... the addition of the  "2016 Future ... Global Cell Surface Testing Market: Supplier ... to their offering.  --> ... of the  "2016 Future Horizons and ...
(Date:11/26/2015)... Research and Markets ( ) has ... Market by Type (Dressings, Therapy Devices, Active Wound Care), ... Facility), and Geography - Global Forecast to 2020" ... --> The purpose of this report ... the global advanced wound care market. It involves deep ...
Breaking Medicine Technology: