Arcturus Therapeutics Inc. will get a public structure and added cash to make good on its ambitions to improve on other RNA therapeutics companies’ offerings as it enters a reverse-merger with troubled Israeli biotech Alcobra Ltd.
The all-stock transaction announced on Sept. 28, which has been approved by both companies’ boards of directors but still needs shareholder approval, would give Arcturus a 60% interest in the combined firm; Alcobra shareholders hold onto 40% largely thanks to the $35m in cash it will bring to the merger. Under the new name Arcturus Therapeutics Ltd