EVFM - InvestorNewsBreaks - Aditxt Inc. (NASDAQ: ADTX) Evofem Biosciences (EVFM) Announce Amended Restates Merger Agreement
Aditxt (NASDAQ: ADTX), a company dedicated to discovering, developing and deploying promising health innovations, along with its wholly owned subsidiary Adifem Inc., and Evofem Biosciences Inc. (OTCQB: EVFM) have amended and restated their previously announced merger agreement. According to the announcement, the amended and restated agreement addresses several issues, including preclosing matters such as interim financing needs that are critical for Evofem’s future success and substituting cash for Aditxt’s common stock as the consideration for Evofem’s common stock in the merger. The announcement also noted that Aditxt and Evofem are working to close the transaction in the second half of 2024. Several closing conditions need to be met before this can happen, including Aditxt securing the necessary funding. The announcement included a mention of Evofem’s recent acquisition of SOLOSEC(R)(secnidazole) 2g oral granules from Lupin Limited. “The acquisition of SOLOSEC marks an important milestone in Evofem’s evolution,” said Aditxt cofounder, chair and CEO Amro Albanna in the press release. “We believe that SOLOSEC is a valuable asset that diversifies Evofem’s portfolio and has the potential to accelerate its evolution into a dynamic global women’s health business that addresses significant health challenges. Our commitment to supporting the expansion of Evofem’s portfolio with additional products and broadening its market reach domestically and internationally exemplifies how the Aditxt model operates. Our confidence in Evofem’s potential has only strengthened, and we firmly believe that, if supported by the right resources, they will drive significant advancements in women’s health.”
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About Aditxt Inc.
Aditxt is is a social innovation platform dedicated to discovering, developing, and deploying promising innovations. Aditxt’s ecosystem of research institutions, industry partners, and shareholders collaboratively drives their mission to “Make Promising Innovations Possible Together.” The social innovation platform is the cornerstone of Aditxt’s strategy, where multiple disciplines drive disruptive growth and address significant societal challenges. Aditxt operates a unique model democratizing innovation, ensuring every stakeholder’s voice is heard and valued, empowering collective progress.
Aditxt has a diverse innovation portfolio, including Adimune™, Inc., which is leading the charge in developing a novel class of therapeutics for retraining the immune system to combat organ rejection, autoimmunity, and allergies. Adivir™, Inc. focuses on enhancing population health, impacting public health globally, and Pearsanta™, Inc. delivers rapid, personalized, and high-quality lab testing accessible anytime, anywhere, at their CLIA-certified and CAP-accredited clinical laboratory based in Richmond, VA.
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NOTE TO INVESTORS: The latest news and updates relating to ADTX are available in the company’s newsroom at https://ibn.fm/ADTX
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