MIRA Pharmaceuticals Signs Binding Letter of Intent to Acquire SKNY Pharmaceuticals, Securing a $5 Million Capital Infusion to Advance Weight Loss and Smoking Cessation Drug Development

About this update from Mira Pharmaceuticals, Inc.

[{"type":"text","content":"Strategic acquisition expands MIRA's pipeline with SKNY-1, a next-generation oral therapeutic targeting the two leading causes of preventable death-obesity and smoking.","length":172,"tagName":"p"},{"type":"text","content":"MIAMI, FL / ACCESS Newswire / March 24, 2025 / MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) ("MIRA"), a clinical-stage pharmaceutical company developing breakthrough therapeutics for neurologic and neuropsychiatric disorders, announced today that it has signed a binding letter of intent (LOI) to acquire SKNY Pharmaceuticals, Inc. The transaction includes a $5 million capital infusion-comprised of cash or equivalent consideration-into MIRA, reinforcing its financial position and supporting the advancement of SKNY-1, a preclinical-stage oral drug candidate for weight loss and smoking cessation.","length":605,"tagName":"p"},{"type":"text","content":"Under the terms of the LOI, MIRA will acquire SKNY through a stock exchange, whereby SKNY shareholders will receive shares of MIRA common stock at a valuation determined by an independent third-party firm. Additionally, SKNY will contribute $5 million in cash or assets to MIRA at closing. Upon completion, SKNY-1 and all related intellectual property assets will be fully integrated into MIRA, further strengthening MIRA's portfolio of novel therapeutics.","length":460,"tagName":"p"},{"type":"text","content":"Targeting the Two Leading Causes of Preventable DeathAccording to a study published in The New England Journal of Medicine, smoking and obesity are the two leading causes of preventable death in the United States. According to the study, smoking is responsible for approximately 18.1% of all deaths, while poor diet and physical inactivity-major contributors to obesity-account for another 16.6%. Despite the burden these conditions place on public health, existing pharmaceutical treatments remain limited, expensive, and often ineffective.","length":542,"tagName":"p"},{"type":"text","content":"The acquisition of SKNY Pharmaceuticals strategically positions MIRA to enter two high-growth pharmaceutical markets with a differentiated, next-generation oral therapy that has the potential to improve patient outcomes.","length":220,"tagName":"p"},{"type":"text","content":"Weight Loss: A $150 Billion Market OpportunityThe global weight loss drug market is projecte...

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