The proposed transaction represents a pre-money enterprise value of $500M for Addimmune incl. earnout of ~$300M in various clinical and priced-based milestones. The transaction is expected to close in Q1’24
The combined company is expected to trade under the ticker symbol “HIV”. Existing Addimmune stockholders will roll 100% of their equity into the combined company
Additionally, 10X III and Addimmune signed a non-binding LOI with Cantor for a $50M committed equity facility. The P-I trial results of AGT103-T showed positive safety results in 7 patients while the P-I trial along with another sponsor-initiated follow-on study showed active immune responses to HIV ~6mos. after dosing
Ref: Globenewswire | Image: Addimmune
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