CohBar (NASDAQ:CWBR) and privately-held Morphogenesis Inc have agreed to combine in an all-stock transaction to advance Morphogenesis’ two technologies aimed at improving the effectiveness of immunotherapies for cancer treatment. The combined company is expected to be named “TuHURA Biosciences Inc” and trade on The Nasdaq Capital Market, with the transaction closing in the third quarter of 2023. CohBar equity holders will receive a dividend of approximately 3.30 shares of CohBar common stock and are expected to own about 15% of the company, while pre-merger Morphogenesis equity holders are anticipated to own around 77%. The executive officers are expected to be James Bianco as CEO and Dan Dearborn as CFO, with the combined company headquartered in Tampa, Florida. CohBar has also entered into a $15 million PIPE, creating anticipated cash runway through 2024.
The lead asset, IFx-Hu2.0, is set to enter a Phase 2/3 registration trial as the first-line treatment for Merkel Cell Carcinoma in early 2024.
Price Action: CWBR shares rose 157.60% to $3.99 at last check on Tuesday.
