Ritter Pharmaceuticals, Inc. reported that it has entered into a definitive “reverse merger” agreement with Qualigen, Inc. (Qualigen), whereby a wholly-owned subsidiary of the Company will merge with and into Qualigen in an all-stock transaction with Qualigen. Upon completion of the merger, the Company will change its name to Qualigen, Inc., or a similar name selected by Qualigen. Following the merger, Michael S. Poirier, President, Chief Executive Officer and Chairman of Qualigen will be appointed to serve as the post-merger combined company's chairman, president and chief executive officer.

The board of directors for the post-merger combined company will be comprised of seven directors, including one member from Ritter Pharmaceuticals' legacy board of directors. Members of the Ritter Pharmaceuticals executive team are expected to support Qualigen's transition into therapeutic clinical development and the public markets under separate consulting agreements.