Nivalis shareholders approve merger with Alpine Immune Sciences

BOULDER  — Shareholders of Nivalis Therapeutics Inc. (Nasdaq: NVLS) have approved its merger with Alpine Immune Sciences Inc.

At a special meeting of stockholders July 19, the merger was approved, as was the issuance of Nivalis’ common stock to Alpine shareholders.

The merger was announced in April, with Nivalis shareholders owning about 26 percent of the combined company and Seattle-based Alpine shareholders owning 74 percent.

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Navalis shareholders also approved a reverse stock split of Nivalis’ common stock, which will offer one new share for every four shares outstanding.They also approved  a name change of the new company to Alpine Immune Sciences Inc.

The merger is expected to close July 24 and the consolidated shares of the two companies will trade on the Nasdaq under the ticker ALPN on July 25.

“With approximately 97 percent of the stockholder votes cast at the special meeting approving the merger, we now look forward to closing this transaction,” Michael Carruthers, Nivalis’ interim president and chief financial officer, said in a prepared statement.

Nivalis is a pharmaceutical company that focuses on treatments for patients with cystic fibrosis.