WILMINGTON, Del. and INGLEWOOD, Calif., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Nocturne Acquisition Corporation (NASDAQ:MBTC, MBTCU, MBTCR)) ("Nocturne") and Cognos Therapeutics, Inc. ("Cognos") today announced the engagement of Chardan, a leading global investment bank, in the role of capital markets advisor to Nocturne in the highly anticipated business combination transaction (the "Business Combination") with Cognos. This strategic move marks Cognos's journey towards becoming a publicly traded company on the NASDAQ Stock Exchange.
Chardan, a distinguished independent, full-service investment bank, boasts two decades of experience in addressing the diverse capital market requirements of both public and private disruptive technology companies worldwide. With an impressive track record as a top Special Purpose Acquisition Company (SPAC) Initial Public Offering (IPO) underwriter and mergers and acquisitions (M&A) advisor, Chardan has raised an impressive $8.5 billion in SPAC IPOs and contributed to a total de-SPAC transaction value of $46 billion. The firm has also sponsored and co-sponsored 15 SPACs, resulting in over $4.4 billion in de-SPAC transaction value.
Chardan's involvement with Nocturne began with its underwriting of Nocturne's successful $115 million Initial Public Offering, setting the stage for the Business Combination announcement with Cognos in January 2023. This Business Combination, currently in progress subject to SEC approval and other conditions, is poised to enable Cognos's transition into a publicly traded entity on the NASDAQ. The transaction anticipates a pro forma enterprise value of approximately $181.3 million, assuming no redemptions by Nocturne's existing public shareholders. Both Cognos and Nocturne anticipate that the funds raised from this transaction will be directed towards advancing Cognos's implantable surgical-pump (ISP) drug delivery technology.
Cognos believes that its SINNAIS™ ISP could represent a significant breakthrough in intelligent drug delivery for patients battling various central nervous system (CNS)-related diseases, where precise and continuous pharmaceutical therapeutic delivery could enhance survival rates. Cognos's primary focus lies in demonstrating the potential of its technology to significantly improve treatment outcomes for patients afflicted with Leptomeningeal carcinomatosis (LC). The current treatment methodologies for LC have limited success due to the challenge of delivering therapeutics beyond the blood-brain barrier to target solid-bed tumors in the brain.
Upon consummation of the Business Combination, Cognos should be well positioned to embark on its next-phase clinical trials and prepare regulatory submissions. This strategic move brings Cognos one step closer to realizing its goal of commercializing its innovative technology platform.
About Cognos Therapeutics, Inc.
California-based Cognos is a medical technology company focused on developing implantable smart pump technology. The company's technology platform Smart Drug Delivery System ("SDDS") serves as a convergence of therapeutics and diagnostics within a single device. Its SDDS is centered around principles such as local delivery, metronomic dosing, and real-time physician feedback after drug administration by delivering therapeutic directly to the brain ventricle bypassing the blood-brain barrier for potentially improved outcomes for brain cancers and other neurological diseases. For more information visit https://cognosthx.com or email IR@cognosthx.com.
About Nocturne Acquisition Corporation
Nocturne is a blank check company incorporated as a Cayman Islands exempted company on October 28, 2020. Nocturne was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Nocturne completed its initial public offering on April 5, 2021. Nocturne is led by Henry Monzon, its Chief Executive Officer, and Ka Seng (Thomas) Ao, its Chief Financial Officer.
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