EIP Pharma signed a merger agreement with Diffusion for an all-stock transaction forming a combined company to advance EIP Pharma’s pipeline & late-stage clinical development of neflamapimod for dementia with Lewy bodies
The current equity and convertible debt holders of EIP Pharma are expected to own ~77.25% and the current stockholders of Diffusion will own ~22.75% of the combined company. The combined company will be renamed “CervoMed” & trade on the Nasdaq Capital Market under a new ticker symbol, CRVO
The combined company is expected to have a cash runway through P-IIb clinical data and to the end of 2024. EIP Pharma plans to initiate a P-IIb study of neflamapimod in Q2’23, funded in part by a $21M grant from the National Institute of Aging
Ref: EIP Pharma | Image: EIP Pharma
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