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11:56 AM EST, 11/11/2021 (MT Newswires) -- Vaxil Bio (VXL.V) on Thursday said it will not proceed with a C$2.5 acquisition of Short Wave Pharma following due diligence on the Israeli biotechnology company.
Vaxil said the decision not go through with the acquisition announced last month was agreed to by both companies.
"The decision was reached by both entities following a due diligence process, concluding that the transaction does not deliver sufficient synergies for the two parties," it said in a release.
Vaxil shares were last seen unchanged at C$0.09 on the TSX Venture Exchange.
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