ANCN - Anchiano Therapeutics skies 183% after signing merger agreement with Chemomab

Anchiano Therapeutics (ANCN) and Chemomab, a clinical-stage biotech company focusing on the discovery and development of innovative therapeutics for fibrosis-related diseases with high unmet need entered into a definitive merger agreement, post which the shareholders of Chemomab would become the majority holders of the combined company.The proposed merger will form a public company focused on advancing Chemomab’s lead product, CM-101.Shareholders of both companies holding shares sufficient to approve the merger have entered into shareholder support agreements with the respective companies in support of the transaction.Concurrent with the merger, PIPE financing to be used to fund clinical trials for CM-101 in fibrotic indications, focusing on two rare diseases and backed by leading healthcare-focused investors OrbiMed and Peter Thiel. The combined company also expects to advance CM-101 into a Phase 2a trial to evaluate the antibody’s anti-fibrotic effect in patients diagnosed with non-alcoholic steatohepatitis ((NASH)).Upon completion of the transaction, the combined company will assume the name

For further details see:

Anchiano Therapeutics skies 183% after signing merger agreement with Chemomab