The name Pozen has disappeared following the closing of the merger between the Chapel Hill-based pharmaceutical firm and Canada-based Tribute.
On Monday, shares of the combined company began trading on the Nasdaq under the symbol ARLZ.
The new company is named Aralez Pharmaceuticals. It will be led by Adrian Adams, who had served as the last CEO of Pozen and who engineered the merger.
Aralez said it will operate offices in the U.S., Canada and Ireland.
Shares are expected to begin trading on the Toronto stock exchange on Wednesday.
“As Aralez, we have established an efficient platform that offers competitive advantages with committed capital to enable us to aggressively build out our portfolio through strategic business development and M&A, from which we plan to drive long-term value creation for shareholders,” Adams said in a statement.
“We have a lean, nimble and performance-oriented operating business model that will allow us to build value organically and through accretive transactions and as such we believe that Aralez is well positioned for further transformational growth.”
The merger was originally announced last June with original plans calling for the combined company to operate in Ireland.
Due to tax benefits, the company decided to base operations in Canada, Adams told the Triangle Business Journal in November.
John Plachetka, the CEO who led Pozen to an IPO and the development of treatment for migraine headaches as well as a formulation of a safer aspirin, retired last June. Pozen raised $350 million under Adams and set out on the merger formation of Aralez.
