Synergy Pharmaceuticals to Spin-Off FV-100 Assets

Synergy Pharmaceuticals Inc.

, a developer of new drugs to treat gastrointestinal diseases and disorders, today announced the planned spin-off of its FV-100 assets into a separate publicly traded company. Synergy's newly formed subsidiary, ContraVir Pharmaceuticals, Inc., the company which will hold the FV-100 assets (“ContraVir”), has filed a Form 10 Registration Statement (“Form 10”) with the U.S. Securities and Exchange Commission. The separation contemplates a 100% distribution of the ContraVir shares of common stock, now held by Synergy, to Synergy's stockholders on a pro-rata basis. "The filing of the Form 10 by ContraVir is an important step in the process of developing and establishing our FV-100 assets as a new, stand-alone company with its