Auris Medical: Jumps on Trasir Therapeutics buyout, restructuring plans

Altamira Therapeutics

03/06/2021 16:09

(Repeats to widen distribution, no changes to text)
    ** U.S.-listed shares of Switzerland-based biotechnology co
Auris Medical Holding Ltd  EARS.O  rise nearly 15% to $4.24
    ** Co says it acquired privately held Trasir Therapeutics
Inc to enter the field of RNA therapeutics  urn:newsml:reuters.com:*:nGNX8vtvc1
    ** Says Trasir's OligoPhore platform enables delivery of
molecules to target tissues outside the liver, creating the
potential for developing RNA-based therapies for various
diseases
    ** The global market for RNA therapeutics has been growing
fast, exceeding $1 billion in 2020- EARS CEO 
    ** Co plans to focus on the development of RNA therapeutics,
while aiming to spin off or divest its existing neurotology,
rhinology and allergology businesses
    ** EARS intends to call shareholder meeting to propose
corporate name change to Altamira Therapeutics Ltd; says upon
approval shares will start trading under the ticker symbol
"CYTO"
    ** Stock had surged nearly 62% YTD, powered by session's
gains

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))