Setterwalls advises Klaria Pharma Holding AB (publ) ("Klaria") in the public merger with Karessa Pharma Holding AB (publ) ("Karessa").
Klaria and Karessa are both listed on Nasdaq First North Growth Market. The merger between the companies will create a focused drug delivery company with a patent-protected, wholly-owned technology platform and a strong development pipeline. The merger will be implemented by Klaria absorbing Karessa. The merger is conditional upon, inter alia, approval of the merger from the shareholders in Klaria and Karessa. The merger is expected to be completed in the first quarter of 2020.
Klaria and Karessa both aim to develop products based on a patented drug delivery platform -a film that attaches to the oral mucosa- with direct absorption of active substances from the oral cavity to the bloodstream.