Nivalis Therapeutics merging with Alpine Immune Sciences

BOULDER — Nivalis Therapeutics Inc. (Nasdaq: NVLS) is merging with privately held biotech company Alpine Immune Sciences Inc.

Under the agreement, Seattle-based Alpine will merge with a wholly owned subsidiary of Nivalis, where Alpine shareholders will own about 74 percent of the combined company. Nivalis shareholders will own about 25 percent.

The transaction will be in all-stock. The combined company will focus on inflammation and immuno-oncology using proteins.

“We believe this transaction with Alpine is an exciting path forward to advance important new therapies for patients and to create significant value for…