Synergy Pharmaceuticals Announces Approval of Merger With Callisto Pharmaceuticals and Other Actions at Annual Meeting of Stockh.

15.01.13 11:05
(Nasdaq:SGYP) ('Synergy') today announced that itconvened its annual meeting of stockholders yesterday and it has received thenecessary approvals from its stockholders to authorize Synergy's merger withCallisto Pharmaceuticals, Inc. ('Callisto') pursuant to the previouslyannounced Agreement and Plan of Merger, dated July 20, 2012, as amended onOctober 15, 2012. Synergy and Callisto expect to close the merger as soon aspracticable. In addition, the following other actions were approved by the stockholders atthe annual meeting: -- an amendment to the Synergy's 2008 Equity Compensation Incentive Plan (the 'Plan') to increase the number of shares of Synergy common stock reserved for issuance under the Plan from 7,500,000 to 15,000,000; -- an amendment to the Synergy's Second Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Synergy common stock from 100,000,000 to 200,000,000; -- the seven (7) director nominees, all of whom currently serve as directors of Synergy, were re-elected with a term to expire in 2013; -- the appointment of BDO USA, LLP as Synergy's independent registered public accounting firm for the fiscal year ended December 31, 2012 was ratified; -- on an advisory basis, approved the compensation of Synergy's named executive officers; and -- on an advisory basis, selected a three (3) year frequency for an advisory vote on executive compensation.About Synergy Pharmaceuticals Inc.Synergy is a biopharmaceutical company focused on the development of new drugsto treat gastrointestinal disorders and diseases. Synergy's lead proprietarydrug candidate plecanatide is a synthetic analog of the human gastrointestinalhormone uroguanylin, and functions by activating the guanylate cyclase Creceptor on epithelial cells of the GI tract. Synergy completed a Phase I studyof plecanatide in healthy volunteers, a Phase IIa clinical trial in CICpatients, and has just completed a major Phase IIb/III clinical trial ofplecanatide to treat CIC. Plecanatide is also being developed to treat IBS-C,with the first trial in IBS-C patients initiated in the fourth quarter of 2012.Synergy's second GC-C agonist SP-333 is in clinical development to treatinflammatory bowel diseases, and has just completed its first Phase I trial inhealthy volunteers. More information is available at CONTACT: Investor Contact: Danielle Spangler The Trout Group (646) 378-2924News Source: NASDAQ OMX15.01.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at and Language: EnglishCompany: Synergy Pharmaceuticals United StatesPhone: Fax: E-mail: Internet: ISIN: US8716393082WKN: End of Announcement DGAP News-Service ---------------------------------


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