Business
Acquisition of Short Wave Pharma for £3.5m
Acquisition of Short Wave Pharma for £3.5m.
About this update from Tomahawk Metals Plc
[{"type":"text","content":"\n\n19 June 2023\n \nPSYCH CAPITAL PLC\n(\"Psych\", \"Psych Capital\", or \"the Company\")\nAcquisition of Short Wave Pharma for £3.5m via Cash and Equity\nBoard Appointments\n \nLondon, 19th June 2023 - Psych Capital PLC, a leading global investment firm specialising in the healthcare sector, is pleased to announce that it has agreed to acquire 100% of the issued share capital of Shortwave Pharma Inc. (\"Shortwave Pharma\"), a biopharmaceutical drug-development company (\"Acquisition\"), expanding the Company's pharmaceutical portfolio to address the growing market for eating disorders. The main terms of the Share Purchase Agreement (\"SPA\") are outlined further below.\nShortwave Pharma, an Ontario registered company with operations based in Israel, develops breakthrough therapies to address unmet medical needs in the field of mental health, with focus on the area of eating disorders. This strategic acquisition aligns with Psych Capital's commitment to improving patient care and advancing mental healthcare through innovative treatments.\nShortwave Pharma's initial program is a transformative therapy for anorexia nervosa, the most fatal eating disorder, a complex and often underserved area of healthcare. Eating disorders, including anorexia nervosa, bulimia nervosa, and binge-eating disorder, affect millions of individuals worldwide. According to the World Health Organization, it is estimated that approximately 9% of the global population suffers from an eating disorder, highlighting the significant market opportunity for effective treatments.\nShortwave Pharma developed a novel delivery method and drug combination for its initial eating disorders programme for anorexia nervosa. It has completed the preliminary early-stage activities that demonstrate the chemistry, manufacturing and controls (\"CMC\") and preclinical abilities of its drug delivery product. The final product meets regulatory requirements for the early phases of the clinical studies. The preclinical programme has so far demonstrated not only the safety profile of the drug, but also the ability of the Shortwave Pharma's product to bring the active ingredients to the blood flow without the first pass metabolism, which, Shortwave Pharma believes, will dramatically improve the efficacy of the drug and will allow a better safety profile.\nShortwave Pha...