Polyphor and EnBiotix Announce Signing of Merger Agreement and Sale of Inhaled Murepavadin to EnBiotix

Sep 01, 2021

Polyphor and EnBiotix have signed a merger agreement.
EnBiotix acquires Inhaled Murepavadin at an agreed valuation of USD 10 million in exchange for 2'599'655 of common shares of EnBiotix (15.4% fully diluted of EnBiotix).
Prior to closing EnBiotix expects to finalize a financing round. Depending on size of such financing round, current shareholders of Polyphor are expected to control between 23 to 26% of the combined entity with all shares listed on SIX Swiss Exchange.
Completion of merger creates a late stage clinical development company with two clinical programs in cystic fibrosis.
Company strategically focuses on rare diseases and oncology.
Completion of merger agreement subject to a number of closing conditions including shareholders' consent of both companies.

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