Atriva Therapeutics and Canadian Biocure Technologies, Inc. entered into an exclusive letter agreement for a reverse takeover transaction.
- Upon successful completion of the transaction, the resulting entity will continue the business of Atriva Therapeutics.
- Shareholders of Atriva will receive not less than 75% of the securities of the resulting issuer, with the current shareholders of
Biocure Technology holding the remainder.
- The transaction is subject to various terms and conditions, including satisfactory due diligence, successful implementation of a private placement and shareholder approvals.
TÜBINGEN,
“We are delighted to have entered into this exclusive letter agreement with Biocure. Our discussions with the Biocure management and board of directors have been exceptionally productive and constructive. We are eager to embark on this journey and combine the strengths of both companies. Together, we aim to address the urgent medical need for safe and effective therapies for patients suffering from severe RNA virus infections. This agreement marks a significant milestone in our commitment to advancing innovative solutions for the benefit of global healthcare,” said
“This letter agreement underscores our commitment to leverage this transaction with CURE as an attractive growth option for Atriva and its stakeholders. We are enthusiastic about the prospect of our companies joining forces and continuing to contribute to improving pandemic preparedness on an extended international scale,” stated
Highlights of the Transaction:
Upon transaction completion, Atriva shareholders and concurrent financing subscribers will collectively hold not less than 75% of the securities of the resulting issuer. Current CURE shareholders will retain a maximum of 25% on a fully diluted basis. The letter agreement stipulates no advances from CURE to Atriva. Atriva will provide CURE with an exclusivity fee of CA$15,000 per month for a minimum of three months. Additionally, a finder's fee of
Transaction Conditions:
The completion of the Transaction is contingent upon various terms and conditions, including the successful completion of due diligence, the execution of a definitive agreement by
For additional information on this transaction, please visit https://biocuretech.com/news.
About Atriva Therapeutics
Atriva Therapeutics’ mission is to develop an antiviral therapy platform against severe respiratory and systemic diseases with a high unmet medical need induced by RNA viruses, e.g., influenza and COVID-19. The clinical-stage biopharmaceutical company is pioneering the development of host-targeting antiviral therapies, making development of viral resistance unlikely, and thereby significantly contributing to pandemic preparedness. The Atriva lead product zapnometinib (ATR-002) is a first-in-class, host-targeting agent that aims to inhibit viral replication and to favorably modulate the body’s immune response to RNA viruses. Atriva Therapeutics was founded in 2015 in Tübingen by a team of leading scientists in viral research and seasoned industry experts and is based with its administrative/operations office in Martinsried (near
For further information, please visit www.atriva-therapeutics.com and follow us on LinkedIn and X (formerly Twitter).
About Biocure
Biocure owns approximately 45% stakes of BiocurePharm in
Contact:
Phone: +49 69 9999 162 10
pangratz@atriva-therapeutics.com
Source:
2023 GlobeNewswire, Inc., source