Citius Pharmaceuticals, Inc. announced that the company has entered into a non-binding letter of intent to acquire all of the outstanding shares of Leonard Meron Biosciences, Inc. Mr. Leonard Mazur, Citius's Chief Executive Officer is the Chairman and Principal Stockholder of LMB. Mr. Myron Holubiak, a director of Citius is currently the President and CEO of LMB and is a significant stockholder of LMB. Myron Holubiak, CEO of LMB, will assume the role of CEO for the combined company, and Leonard Mazur will assume the role of Chairman of the Board.

All key employees of LMB will also join the combined company in their respective roles.