m_and_a
confidence high
sentiment positive
materiality 0.95
Telomir Pharmaceuticals completes acquisition of TELI, consolidating global rights to Telomir-1
Telomir Pharmaceuticals, Inc.
- Acquired 100% of TELI for 34,389,710 restricted shares of Telomir common stock to former TELI shareholders.
- Bayshore Trust contributed $1 million at closing and has an option to provide up to $4 million upon IND acceptance and Phase 1/2 study start.
- Option includes $2 million for 1,492,537 shares at $1.34 per share upon FDA IND acceptance, and another $2 million for the same number of shares upon Phase 1/2 initiation.
- Transaction eliminates prior geographic fragmentation, giving Telomir full worldwide control of Telomir-1 development and commercialization.
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