Adamis to Merge with La Jolla Pharmaceutical

San Diego’s La Jolla Pharmaceutical, which was unable to muster a sufficient number of investors to approve its liquidation plan, has agreed to a merger with Adamis Pharmaceuticals, a Del Mar, CA, biotech with shares that trade over-the-counter. Under a reverse merger approved by both boards, La Jolla Pharmaceutical shareholders will get as much as a 30 percent ownership of the combined company. Adamis, which develops drugs for viral diseases, will get $2.5 million to $3 million remaining from La Jolla Pharmaceutical’s shattered operations, and the combined company will be know as Adamis Pharmaceuticals.

Author: Bruce V. Bigelow

In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University. Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.