Brief: EIP Pharma And Diffusion Pharmaceuticals Announce Merger Agreement For CNS-Focused Company Treating Neurodegenerative Diseases

CervoMed

30/03/2023 12:26

March 30 (Reuters) - Diffusion Pharmaceuticals Inc
 DFFN.O :
    * EIP PHARMA AND DIFFUSION PHARMACEUTICALS ANNOUNCE MERGER
AGREEMENT TO CREATE LEADING CNS-FOCUSED COMPANY TREATING
NEURODEGENERATIVE DISEASES
    * DIFFUSION PHARMACEUTICALS - COMBINED CO EXPECTED TO HAVE A
CASH
RUNWAY THROUGH PHASE 2B CLINICAL DATA AND TO END OF 2024
    * DIFFUSION - CURRENT EQUITY AND CONVERTIBLE DEBT HOLDERS OF
EIP
PHARMA TO OWN, IN AGGREGATE, ABOUT 77.25% OF OUTSTANDING SHARES
OF COMBINED CO
    * DIFFUSION - COMBINED CO EXPECTED TO BE RENAMED "CERVOMED"
AND
CONTINUE TO TRADE ON NASDAQ CAPITAL MARKET UNDER A NEW TICKER
SYMBOL, CRVO
    * DIFFUSION PHARMACEUTICALS INC - MERGER AGREEMENT HAS BEEN
APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES

Source text for Eikon:  ID:nGNX65H7ht 
Further company coverage:  DFFN.O 

 ((Reuters.Briefs@thomsonreuters.com;))