EIP Pharma Entered into a Definitive Merger Agreement with Diffusion Pharmaceuticals to Advance Neflamapimod for Neurodegenerative Diseases
Shots:
- EIP Pharma signed a merger agreement with Diffusion for an all-stock transaction forming a combined company to advance EIP Pharma’s pipeline & late-stage clinical development of neflamapimod for dementia with Lewy bodies
- The current equity and convertible debt holders of EIP Pharma are expected to own ~77.25% and the current stockholders of Diffusion will own ~22.75% of the combined company. The combined company will be renamed “CervoMed” & trade on the Nasdaq Capital Market under a new ticker symbol, CRVO
- The combined company is expected to have a cash runway through P-IIb clinical data and to the end of 2024. EIP Pharma plans to initiate a P-IIb study of neflamapimod in Q2’23, funded in part by a $21M grant from the National Institute of Aging
Ref: eip pharma and diffusion pharmaceuticals | Image: eip pharma and diffusion pharmaceuticals
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
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