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Novus Therapeutics Acquires Anelixis Therapeutics in All-Stock Transaction
Wednesday 16 September 2020

US-based clinical stage biotechnology company Novus Therapeutics, Inc. (NASDAQ: NVUS) has completed the acquisition of US-based clinical stage biotechnology company Anelixis Therapeutics, Inc. in a stock-for-stock transaction, the company said.

All of Anelixis' outstanding equity interests were exchanged in a merger for a combination of shares of

Novus common stock and shares of preferred stock. Concurrently with the acquisition of Anelixis, Novus entered into definitive agreements for a PIPE investment with existing and new investors to raise approximately USD 10m in which the investors will be issued shares of preferred stock at a price of approximately USD 500 per share.

The acquisition includes lead clinical-stage compound AT-1501, a next generation anti-CD40L antibody, in development for organ and cellular transplantation, autoimmune diseases, and neurodegenerative diseases.

Ladenburg Thalmann and Co. Inc. is serving as exclusive financial advisor and Gibson, Dunn and Crutcher LLP is serving as legal counsel to Novus. Goodwin Procter LLP is serving as legal counsel to Anelixis.

SVB Leerink is serving as financial advisor and lead placement agent for the private placement, and Noble Life Science Partners, a division of Noble Capital Markets, Inc., is acting as co-placement agent.

Novus Therapeutics, Inc. targets the CD40L pathway to develop potential treatments for people requiring an organ or cell-based transplant, and for people with autoimmune and neurodegenerative disease.
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Date Published: 16/09/2020

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