Brief: Neurotrope, Metuchen Pharma Report Merger Agreement

NextTrip

18/05/2020 13:51

May 18 (Reuters) - Neurotrope Inc  NTRP.O :
    * NEUROTROPE AND METUCHEN PHARMACEUTICALS ANNOUNCE MERGER
AGREEMENT TO FORM PETROS PHARMACEUTICALS, A MEN'S HEALTH COMPANY
    * NEUROTROPE INC - DEAL FOR ALL-STOCK TRANSACTION
    * NEUROTROPE INC - EXISTING NEUROTROPE SHAREHOLDERS WILL OWN
APPROXIMATELY 20% AND METUCHEN SHAREHOLDERS WILL OWN
APPROXIMATELY 80% OF COMBINED COMPANY
    * NEUROTROPE INC - CHARLES RYAN NAMED PRESIDENT AND CHIEF
EXECUTIVE OFFICER OF PETROS
    * NEUROTROPE - FUNDING FOR PETROS EXPECTED TO INCLUDE ABOUT
$20
MILLION OF CO'S AVAILABLE CASH AND CASH EQUIVALENTS, REVENUE
FROM SALES OF METUCHEN'S STENDRA
    * NEUROTROPE INC - PETROS IS EXPECTED TO BECOME A NASDAQ
TRADED
COMPANY FOCUSED SOLELY ON MEN'S HEALTH CONDITIONS
    * NEUROTROPE - BRYOSTATIN-1 AND ALL EXISTING ASSETS,
OPERATIONS
AND LIABILITIES, EXCEPT FOR CASH RETAINED BY PETROS WILL BE
SPUN-OUT INTO A SEPARATELY TRADED CO
    * NEUROTROPE INC - NEUROTROPE BIOSCIENCE EXPECTED TO RETAIN
ABOUT
$14 MILLION WHICH INCLUDES CASH PLUS RECENTLY AWARDED NIH
CLINICAL TRIAL GRANT
    * NEUROTROPE INC - STAKEHOLDERS OF NEUROTROPE PRIOR TO
MERGER WILL
OWN ALL OF SHARES OF NBI

Source text for Eikon:  ID:nPn5kwNxra 
Further company coverage:  NTRP.O 

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