Aditxt to Acquire AiPharma, Rights Holder of Antiviral Tablet Avigan

 Phase 3 clinical trial of Avigan/Reeqonus for treatment of COVID-19 completed enrollment of more than 1,200 patients in the U.S., Mexico and Brazil with topline results expected in less than 60 days

Aditxt, Inc. ("Aditxt") (Nasdaq: ADTX), a biotech innovation company with a mission to improve the health of the immune system, today announced it has entered into a transaction agreement to reach a definitive agreement by the end of November 2021 to acquire a subsidiary ("AiPharma") of AiPharma Global Holdings LLC ("AiPharma Global") which is to own all of the assets of AiPharma Global, a company focused on discovering, developing and commercializing antiviral therapies across a broad spectrum of infectious diseases.

AiPharma Global is a biopharmaceutical company that holds directly, or through its affiliates worldwide (excluding Japan), exclusive rights to Avigan/Reeqonus/Qifenda and all formulations of favipiravir, a broad spectrum oral antiviral drug that targets COVID-19 and other infectious diseases. The binding agreement follows Aditxt’s prior announcement on August 25, 2021 to acquire the company and Aditxt’s funding of a bridge loan to AiPharma Global in the amount of $6.5 million.

The acquisition, if completed, will form a business segment for Aditxt that is focused on the monitoring and treatment of infectious diseases. Key terms of the agreement include: an increase in the amount of permitted borrowings under the secured loan from Aditxt to AiPharma Global by $8.5 million resulting in total availability of $15 million, as well as Aditxt issuing such number of shares of common stock that yields 65% of the number of Aditxt’s outstanding shares calculated as of September 30, 2021 to be issued only upon closing of the transaction.

https://finance.yahoo.com/news/aditxt-signs-transaction-agreement-acquire-124500511.html