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Neurotrope and Metuchen Pharmaceuticals Announce Merger Agreement to Form Petros Pharmaceuticals, a Men's Health Company
Lead asset Stendra® (avanafil) Looks to Build on $25 Million of 2019 Gross Sales Disruptive pipeline opportunity with topical treatment for Peyronie's disease
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[{"type":"text","content":"Lead asset Stendra® (avanafil) Looks to Build on $25 Million of 2019 Gross Sales\n Disruptive pipeline opportunity with topical treatment for Peyronie's disease\n Neurotrope Bioscience, Inc. will continue as a separately traded entity with its lead Bryostatin program treating neurodegeneration\n Charles S. Ryan, J.D., Ph.D. named President and Chief Executive Officer of Petros\n\n\nNEW YORK and MANALAPAN TOWNSHIP, N.J., May 18, 2020 /PRNewswire/ -- Neurotrope, Inc. (Nasdaq: NTRP) and Metuchen Pharmaceuticals, L.L.C., a privately held biopharmaceutical company (\"Metuchen\"), focused on identifying, developing, acquiring, and commercializing innovative therapeutics for men's health conditions, today announced that the two companies have entered into a definitive merger agreement under which Metuchen and Neurotrope, Inc. (\"Neurotrope\") will merge in an all-stock transaction resulting in a newly formed holding company to be renamed Petros Pharmaceuticals, Inc. (\"Petros\"). Petros is expected to become a Nasdaq traded company focused solely on men's health conditions. Petros' cornerstone product would be Metuchen's Stendra® (avanafil) for erectile dysfunction (\"ED\"). Petros' pipeline would include Metuchen's recently in-licensed product H-100 for Peyronie's disease, and it would include a business development program exploring various men's health products, including endothelial dysfunction, prostate cancer, psychosexual and psychosocial ailments, hormone health and substance use disorders. \n\n \n \n \n \n \n \n\n \nUpon completion of the proposed merger, based on certain assumptions, it is anticipated that existing Neurotrope shareholders will own approximately 20% and Metuchen shareholders will own approximately 80% of the combined company, in each case on a pro forma basis and based upon the final Neurotrope common stock share count at close. The transaction has been approved by the boards of directors of both companies. Metuchen's principal investor is Juggernaut Capital Partners, a leading private equity firm with over $1 billion in capital commitments. Funding for Petros is expected to include approximately $20 million of Neurotrope's available cash and cash equivalents (subject to adjustment) as well as revenue from sales of Metuchen's U.S. Food and Drug Administration (\"FDA\")-approved erectile dysfunction treatment, ...