Opko Completes Prolor Deal

Opko Health Inc. has completed the acquisition of Prolor Biotech Inc. Stockholders of Prolor will received 0.9951 shares of Opko common stock for each of Prolor’s.

Terms of the deal were not disclosed.

“We are pleased to complete the acquisition of Prolor and broaden our portfolio of market-transforming therapies in selected specialty markets,” said Phillip Frost, M.D., Opko’s chairman and CEO. “With the inclusion of Prolor’s pipeline, Opko now has four significant products in phase III clinical development and a robust pipeline of important therapeutic and unique diagnostic products in various stages of development. Prolor’s drug product candidates for growth hormone deficiency, hemophilia, obesity and diabetes, along with its broadly applicable technology platforms and efficient research and development center, are highly valuable assets that complement Opko’s growth strategy.”

“We are delighted to join forces with Opko and combine the complementary strengths of the two companies, building on our focus of providing patients with next-generation therapies intended to improve their health and quality of life,” commented Abraham Havron, Ph.D., CEO of Prolor. “We believe that Opko’s plan to leverage our research and development capabilities in Israel is good news for our employees and our community, as we begin this exciting new chapter in our evolution.”

Stockholders of both Opko and Prolor approved all proposals presented at their respective stockholder meetings held on Aug. 28.

Opko, headquartered in Miami, Fla., focuses on point-of-care diagnostics and molecular diagnostics. Prolor, based in Nes-Ziona, Israel, is primarily focused on developing longer-acting proprietary versions of already approved therapeutic proteins.