HTBX - Heat Biologics to acquire biodefense company Elusys Therapeutics

Heat Biologics (NASDAQ:HTBX) has executed a merger agreement to acquire Elusys Therapeutics, manufacturer of ANTHIM (obiltoxaximab) Injection, pursuant to which Elusys will merge into a wholly owned subsidiary of Heat. HTBX shares up 1.5% premarket at $4.06. The acquisition is expected to close during Q1 2022. The strategic acquisition of Elusys is intended to enhance Heat’s immunotherapy portfolio and further position Heat to take a lead role in the biodefense space. Under the terms of agreement, Heat will acquire all outstanding shares of Elusys. No stock or warrants will be issued in connection with the acquisition, and Elusys has no outstanding debt. The addition of ANTHIM, together with Heat’s RapidVax platform designed to target emerging biological threats, would significantly expand the company’s infectious disease product portfolio. ANTHIM is indicated in adult and pediatric patients for the treatment of inhalational anthrax due to Bacillus anthracis in combination with appropriate antibacterial drugs,

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Heat Biologics to acquire biodefense company, Elusys Therapeutics