New DNA/RNA therapeutics company goes public

NeuBase Therapeutics closes merger transaction with Ohr Pharmaceutical

DDNews Staff
Register for free to listen to this article
Listen with Speechify
0:00
5:00
PITTSBURGH—NeuBase Therapeutics Inc., a biotechnology company developing next-generation antisense therapies to address genetic diseases, announced midway through the summer the completion of the merger and associated financings between itself and Ohr Pharmaceutical Inc.
 
“This is an important milestone for NeuBase as we enter the public market with the goal of creating a dynamic, high-impact company in one of the most promising sectors of the life sciences,” said Dr. Dietrich A. Stephan, CEO and chairman of NeuBase. “Given our PATrOL platform’s potential to safely and efficiently modify the function of the human genome and transcriptome, we envision building a company with the potential to help transform the health of the global population.”
 
Immediately following the closing of the merger, the company entered into a definitive purchase agreement for the sale of NeuBase common stock with Greenlight Capital. Upon close of the private placement, Greenlight Capital will own about 9 percent of NeuBase common stock. Added David Einhorn, president of Greenlight Capital: "We are excited to be investing in NeuBase, given its initial focus on neurological disorders, and we believe its unique, next-generation technology may offer great help for victims of some of the most difficult to treat diseases.”
 
The combined company changed its name to NeuBase Therapeutics Inc. immediately following the closing of the merger. It will maintain its headquarters in Pittsburgh. Just prior to the closing of the merger, NeuBase completed a private placement financing of approximately $9 million under the terms of the definitive agreements previously announced in March 2019.
 
Roth Capital Partners LLC acted as financial advisor to Ohr for the merger, and Troutman Sanders LLP served as legal counsel to Ohr. Allele Capital Partners LLC at Tribal Capital Markets LLC acted as financial advisor, Paul Hastings LLP served as legal counsel to NeuBase, and Richards Kibbe & Orbe LLP served as legal counsel to Greenlight Capital. Allele also served as exclusive advisor to NeuBase related to the post-merger financing.

DDNews Staff

Published In:


Subscribe to Newsletter
Subscribe to our eNewsletters

Stay connected with all of the latest from Drug Discovery News.

March 2024 Issue Front Cover

Latest Issue  

• Volume 20 • Issue 2 • March 2024

March 2024

March 2024 Issue