RE:Why investors should be wary of 'mergers of equals'The key is that the merger is largely a financing that adds AEZS's significant cash and cashcow diagnostic. The diagnostic will be managed by other parties so there's no integration risk, etc. AEZS's capital will help fuel CZO's growth plan. The merger might add a couple pipeline assets to CZO's portfolio but they've even talked about partnering the AIM Biologicals program too with early proof in humans. A news release said they will evaluate the pipeline portfolio after the closure of the merger and could cut assets. CZO also needs human infrastructure as it's pipeline advances in human trials and AEZS builds scale.