Aditxt (NASDAQ: ADTX), a global innovation company focused on therapeutics and technologies that monitor and modulate the immune system, has signed an asset purchase agreement with Cellvera Ltd. According to the announcement, the agreement gives Aditxt a 50% ownership in G Response Aid FZE; the remaining 50% ownership belongs to global logistics leader Agility Inc. Calling the agreement a “significant step” for the company, Aditxt officials noted that the agreement allows the company to partner with Agility to address a growing global market need for effective antivirals. Specifics of the transaction include the consideration of (A) $24.5 million, comprised of: (i) the forgiveness of Aditxt’s $14.5 million loan to Cellvera, and (ii) $10 million in cash, and (B) future royalties for seven years. The announcement also noted that the share exchange agreement previously entered in December 2021 between Cellvera Global Holdings LLC (together with other affiliates and subsidiaries) and Aditxt and all other related agreements will be terminated. The transaction is subject to approval by Aditxt’s board of directors, financing of the purchase price, regulatory approvals for the transfer of shares, the resolution and satisfaction of all of Cellvera’s creditors inclusive of those creditors who have initiated claims, and securing the rights to additional third-party IP assets. “We believe this acquisition has the potential to help drive Aditxt’s strategic revenue and growth, as we move forward to help address a growing market need for more effective antivirals,” said Aditxt cofounder, chair and CEO Amro Albanna in the press release. “We are excited by the opportunity to play a key role in the development of Avigan in terms of clinical and commercial opportunities. We believe that Avigan can play a vital role in the treatment of a range of infectious diseases, due to the broad-spectrum nature of the molecule. Although we have only recently entered into the therapeutics market, our goal is to drive a paradigm shift in the treatment and prevention of infectious diseases globally through our newly formed subsidiary Adivir.”
To view the full press release, visit https://ibn.fm/pZIg4
About Aditxt Inc.
Aditxt is a global innovation company focused on therapeutics and technologies that monitor and modulate the immune system. The company’s mission of “Making Promising Innovations Possible, Together” is defined by its growing ecosystem of research institutions, global industry partners and shareholders who inform and inspire. Aditxt’s diverse innovation portfolio includes Adimune Inc.(TM), developing and designing a new class of therapeutics for retraining the immune system to address organ rejection, autoimmunity, and allergies; Adivir Inc.(TM), focused on identifying, developing and commercializing new ways to treat infectious diseases; and Pearsanta Inc.(TM), which offers personalized immune monitoring for a wide range of health conditions, including hereditary cancer, wounds and cardiomyopathy. For more information, please visit www.Aditxt.com and www.AditxtScore.com.
NOTE TO INVESTORS: The latest news and updates relating to ADTX are available in the company’s newsroom at https://ibn.fm/ADTX
About MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
[email protected]
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
