Drug company BioCryst Pharmaceuticals Inc. (Nasdaq: BCRX) agreed to purchase Presidio Pharmaceutical Inc. for about $101 million.
The boards of both companies have approved the deal. Presidio’s team will join BioCryst to develop new medications to treat hepatitis c and hereditary angioedema.
Durham, N.C.-based BioCryst hired J.P. Morgan Securities LLC as financial adviser, along with Wachtell Lipton Rosen & Katz for legal counsel. Bank of America Merrill Lynch ran the sale process for Presidio while Cooley LLP handled legal matters.
Presidio, headquartered in San Francisco, develops small-molecule antiviral therapies. BioCryst makes medicine that treats inflammatory diseases.