AMENDMENT NO. 1 TO AGREEMENT AND PLAN OF MERGER
Exhibit 2.2
EXECUTION VERSION
AMENDMENT NO. 1 TO
AGREEMENT AND PLAN OF MERGER
AGREEMENT AND PLAN OF MERGER
This Amendment No. 1 (this “Amendment No. 1”) to Agreement and Plan of Merger (the
“Merger Agreement”), dated as of May 1, 2008, among Critical Therapeutics, Inc., a Delaware
corporation (“Public Company”), Neptune Acquisition Corp., a Delaware corporation and a
wholly owned subsidiary of Public Company (the “Transitory Subsidiary”), Cornerstone
BioPharma Holdings, Inc., a Delaware corporation (“Merger Partner”) and, for purposes of
Section 8.3 and 9.13 of the Merger Agreement, Cornerstone Biopharma, Inc., shall be effective
August 7, 2008 (the “Effective Date”). Terms that are used herein with initial capital letters and
that are not otherwise defined shall have the meanings given to them in the Merger Agreement.
BACKGROUND
Public Company, Transitory Subsidiary, Merger Partner, and Cornerstone Biopharma, Inc.
(collectively, the “Parties”) previously entered into the Merger Agreement on May 1, 2008.
Section 3.16(f) of the Merger Agreement erroneously refers to the product Tussionex®, which is
owned by UCB Pharma, as being owned by Merger Partner. The reference in Section 3.16(f) of the
Merger Agreement to Tussionex® instead should have referred to Merger Partner’s extended-release
antihistamine and hydrocodone cough suppressant product candidates that, if approved, will compete
with Tussionex® in the hydrocodone cough suppressant market.
The Parties desire to amend the Merger Agreement as described herein.
AGREEMENT
NOW THEREFORE, in consideration of the mutual covenants contained herein, the Parties agree as
follows:
1. Section 3.16(f) of the Merger Agreement is hereby deleted in its entirety and replaced with
a new Section 3.16(f) that reads as follows:
With respect to each of Merger Partner’s extended-release antihistamine and
hydrocodone cough suppressant product candidates, to the knowledge of Merger
Partner, no other person is developing or has developed, or is seeking or has sought
FDA approval of an Abbreviated New Drug Application or a Supplemental New Drug
Application for, a product with the same or functionally similar active
pharmaceutical ingredients for use for the same or substantially similar indication.
2. The terms and conditions of the Merger Agreement shall continue in full force and effect
except as modified by this Amendment No. 1.
[signature page follows]
[Signature Page to Amendment No. 1 to Agreement and Plan of Merger]
IN WITNESS WHEREOF, Public Company, the Transitory Subsidiary, Merger Partner, and Cornerstone
Biopharma, Inc. have caused this Amendment No. 1 to be signed by their respective officers
thereunto duly authorized as of the Effective Date.
CRITICAL THERAPEUTICS, INC. | ||||||
By: Name: |
/s/ Xxxxxx Xxxxxxxx, Ph.D.
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Title: | President and Chief Executive Officer | |||||
NEPTUNE ACQUISITION CORP. | ||||||
By: Name: |
/s/ Xxxxxx Xxxxxxxx, Ph.D.
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Title: | President | |||||
CORNERSTONE BIOPHARMA HOLDINGS, INC. | ||||||
By: Name: |
/s/ Xxxxx X. Xxxxxxx
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Title: | President and Chief Executive Officer | |||||
CORNERSTONE BIOPHARMA, INC. | ||||||
By: Name: |
/s/ Xxxxx X. Xxxxxxx
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|||||
Title: | President and Chief Executive Officer |