RE:RE:RE:RE:RE:RE:RE:PwC sees continuation of US$ 5 to 15 Billion Bio M&A DealsThe corporation laws of most states, including Delaware, Minnesota, Iowa, and those states that have adopted the Revised Model Business Corporation Act, provide that, in the event of a merger, the merging corporation (i.e. ONCY) ceases to exist as a separate legal entity, and all of its assets are vested in the surviving corporation (Big Pharma).
As a consequence all intellectual property is transferred to the "surviving corporation" and any outstanding agreements between the "merging corporation" and a third party is ultimately voided, since the merging corporation (i.e.ONCY) will no longer exist and is no longer a signing party to the oiginal agreement.