Synergy Pharmaceuticals Inc. (NASDAQ: SGYP), a developer of new drugs to
treat gastrointestinal diseases and disorders, today announced the
planned spin-off of its FV-100 assets into a separate publicly traded
company. Synergy’s newly formed subsidiary, ContraVir Pharmaceuticals,
Inc., the company which will hold the FV-100 assets (“ContraVir”), has
filed a Form 10 Registration Statement (“Form 10”) with the U.S.
Securities and Exchange Commission. The separation contemplates a 100%
distribution of the ContraVir shares of common stock, now held by
Synergy, to Synergy’s stockholders on a pro-rata basis.
“The filing of the Form 10 by ContraVir is an important step in the
process of developing and establishing our FV-100 assets as a new,
stand-alone company with its
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