Aptorum Group Joins Forces with DiamiR in Strategic Merger

Aptorum Group and DiamiR Biosciences Announce Merger

Aptorum Group Limited (NASDAQ: APM), a clinical stage biopharmaceutical company, has entered an agreement with DiamiR Biosciences, known for its novel blood-based tests. This merger signifies a crucial step in addressing significant medical challenges, particularly in brain health.

Details of the Definitive Agreement

The merger, an all-stock deal, will see DiamiR retaining its identity as a wholly-owned subsidiary of Aptorum following the merger's completion. The transaction is poised to keep the combined entity listed on the Nasdaq Stock Market, enhancing its visibility in the financial markets.

Management Statements on the Merger

Aptorum's CEO, Ian Huen, expressed optimism regarding the merger. He stated that joining forces with DiamiR presents an exciting opportunity to enhance shareholder value. Their collaboration focuses on commercialization capabilities, aiming to meet urgent needs in brain health and oncology.

DiamiR’s Vision and Contributions

Dr. Alidad Mireskandari, CEO of DiamiR, highlighted the strategic advantages brought by this merger. By merging their strengths, the companies will drive advancements in clinical services for aging-related diseases, particularly Alzheimer's. This is expected to position them as leaders in non-invasive testing methodologies.

Structure and Implications of the Merger

The merger agreement stipulates that Aptorum will re-domicile to Delaware before finalizing the transaction. This process involves acquiring all outstanding capital stock of DiamiR in exchange for common stock. After the merger, DiamiR’s existing shareholders will represent about 70% of the new entity’s outstanding common stock.

Next Steps for Shareholder Approval

Both companies' boards have approved the merger, which is pending stockholder approval and other regulatory requirements. The finalization is anticipated in the upcoming quarters. The combined entity will establish its headquarters in Princeton, New Jersey, under the leadership of both Aptorum and DiamiR executives.

Shareholder Meetings and Legal Details

Aptorum plans to convene a special meeting to secure shareholder approval for various aspects of the merger, including stock issuance and legal compliance, in anticipation of a seamless transition. Legal teams from Hunter Taubman Fischer & Li LLC and Ellenoff Grossman & Schole LLP represent both firms, ensuring adherence to regulatory standards.

About Aptorum Group

Aptorum Group Limited (NASDAQ: APM) focuses on the discovery and commercialization of therapeutic solutions targeting unmet medical needs. Their expertise concentrates on areas like oncology and infectious diseases, making innovative strides in healthcare.

About DiamiR Biosciences

DiamiR is committed to developing sophisticated diagnostics aimed at early detection of brain health issues and other critical health conditions. Its technology leverages proprietary microRNA signatures, positioning the company at the forefront of molecular diagnostics.

Frequently Asked Questions

What is the main focus of the merger between Aptorum and DiamiR?

The merger aims to enhance capabilities in addressing unmet medical needs, particularly in brain health and oncology.

When is the merger expected to be finalized?

The merger is anticipated to close within the next quarters, pending shareholder and regulatory approvals.

Where will the new entity be headquartered?

The combined company will be headquartered in Princeton, New Jersey.

What benefits does Aptorum expect from merging with DiamiR?

Aptorum expects increased shareholder value and improved revenue generation capacity through its advanced biopharma services.

Who will lead the combined company post-merger?

Ian Huen will serve as CEO, with Dr. Alidad Mireskandari as President, ensuring strong leadership continuity.

About The Author

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