Colorado biotech to go public through merger deal

DENVER BUSINESS JOURNAL - MiRagen Therapeutics Inc., a Boulder biotech drug development company, is acquiring another company and using the merger to become publicly traded.

The privately-held drug development company announced late Tuesday it has reached agreement to acquire 96 percent of the outstanding stock of Carlsbad, California-based Signal Genetics Inc. (Nasdaq: SGNL), pending approval of both company's shareholders.

Coinciding with the merger will be a $40 million investment in MiRagen by a syndicate of existing and new investors.

The result will be a public, clinical-stage biotech research company trading on the Nasdaq exchange under the ticker symbol "MGEN."

MiRagen, a small company with less than 50 employees, will remain focused on micro RNA-targeted therapies and led by MiRagen's executive team, the company said.

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