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Aditxt Signs Asset Purchase Agreement to Acquire Fifty Percent Ownership of Global Response Aid – with Rights to Manufacture and Market Broad-Spectrum Antiviral Drug Avigan
This agreement is a significant step for Aditxt as it expands its portfolio to include innovative therapies for infectious diseases; Aditxt will partner with
About this update from Aditxt, Inc.
[{"type":"text","content":"\n\nThis agreement is a significant step for Aditxt as it expands its portfolio to include innovative therapies for infectious diseases; \n\n\n\nAditxt will partner with global logistics leader Agility to address a growing global market need for effective antivirals\n\n\n\n RICHMOND, Va.--(BUSINESS WIRE)--\nAditxt,® Inc. (NASDAQ: ADTX) (“Aditxt” or the “Company”), a global innovation company focused on therapeutics and technologies that monitor and modulate the immune system, is pleased to announce the signing of an asset purchase agreement with Cellvera, Ltd. (”Cellvera”) that grants Aditxt (whether directly or in its recently formed wholly owned subsidiary Adivir, ™ Inc. (“Adivir”), a 50% ownership in G Response Aid FZE (“GRA” or “Global Response Aid”) with the other 50% owned by global logistics leader Agility, Inc. (KW: AGLTY) (“Agility”). The consideration for the transaction is (A) $24.5 million, comprised of: (i) the forgiveness of Aditxt’s $14.5 million loan to Cellvera, and (ii) $10 million in cash, and (B) future royalties for 7 years. Together with Dr. Reddy’s Laboratories, Ltd. (NYSE: RDY), GRA holds an exclusive, worldwide license for Avigan® 200mg, excluding Japan, China and Russia. In connection with the closing of this transaction, the Share Exchange Agreement previously entered as of December 28, 2021, between Cellvera Global Holdings, LLC f/k/a AiPharma Global Holdings, LLC (together with other affiliates and subsidiaries) and Aditxt and all other related agreements will be terminated.\n\n\nThe closing of the transaction remains subject to a number of conditions, including but not limited to, among others, approval by Aditxt’s board of directors to enter into this transaction, financing of the purchase price, regulatory approvals for the transfer of shares, the resolution and satisfaction of all of Cellvera’s creditors inclusive of those creditors who have initiated claims, and securing the rights to additional 3rd-party IP assets. No assurance can be given that all of the conditions to closing will be obtained or satisfied, or that the transaction will ultimately close.\n\n\n“We believe this acquisition has the potential to help drive Aditxt’s strategic revenue and growth, as we move forward to help address a growing market need for more effective antivirals,” said Amro Albanna, co-founder, chairman and CEO of...