Akari Therapeutics and Peak Bio have reached an agreement to merge, forming a combined company that will operate under the Akari banner. The merger is set to create a powerhouse in the biotechnology industry, with an expanded pipeline of assets in various stages of development.
Focus on Business Development and Licensing
The newly merged entity will prioritize business development and licensing as key areas of focus. By combining resources and expertise, the company aims to capitalize on synergies and drive growth in these critical areas.
Equity Distribution
Shareholders of both companies will receive approximately 50% equity in the new business. The merged company will be listed on the Nasdaq Capital Market under Akari's current AKTX ticker. The distribution of equity is contingent on each company's net cash position at the time of the deal closure.
Closing Details
The deal is expected to close in the late second quarter, pending shareholder approval and meeting other closing conditions. The board of the combined company will consist of three directors from each merging entity and one jointly-selected independent director.
Don't miss out on this exciting development in the biotechnology sector. Stay tuned for more updates on this merger.
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