Colorado biotech firm is being acquired to create $90M company in Seattle

DENVER BUSINESS JOURNAL - A Seattle biotech company is acquiring Boulder’s Nivalis Therapeutics, merging with it to become publicly traded and use Nivalis’ $44 million in cash to fund new immunotherapy cancer and inflammatory disease treatments.

The post-merger company will be based in Seattle.

The companies announced the deal Tuesday afternoon. It’s expected to close in the third quarter of this year and is structured as a tax-free deal in which privately-held Alpine merges into Nivalis.

Shareholders in Nivalis (Nasdaq: NVLS) would end up owning 26 percent of the post-merger company, while backers of Seattle-based Alpine Immune Systems would own 74 percent.

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