Rafael Holdings Merges with Cyclo Therapeutics for Future Innovations
Rafael Holdings and Cyclo Therapeutics Merge
In an exciting development for the biotechnology sector, Rafael Holdings, Inc. (NYSE: RFL) and Cyclo Therapeutics, Inc. have successfully completed their merger after receiving necessary approvals from shareholders of both companies. This merger marks a significant advancement in their strategy to enhance clinical trials and develop therapies for rare genetic diseases.
Details of the Merger
Upon merger completion, Rafael Holdings has issued shares of its Class B common stock, representing approximately 22% of the newly combined company, based on a predetermined exchange ratio. Additionally, warrants have been provided to select holders of Cyclo Therapeutics’ warrants. This strategic move reflects Rafael's commitment to boosting its clinical pipeline.
Focus on Trappsol Cyclo™
Rafael Holdings has identified Trappsol Cyclo™ as its flagship clinical asset. Trappsol Cyclo™ is currently being assessed in a pivotal, randomized, double-blind, placebo-controlled study known as TransportNPC™. This study is crucial for evaluating the drug's potential benefit for patients with Niemann-Pick Disease Type C1, a rare and fatal condition.
Leadership Insights
Bill Conkling, President and CEO of Rafael Holdings, expressed enthusiasm for the merger, emphasizing that it represents a major step toward addressing high unmet medical needs. He praised the Cyclo Therapeutics team for their efforts in fully enrolling participants for the clinical trial and expressed anticipation for the interim results of the TransportNPC™ trial scheduled for mid-2025.
N. Scott Fine, CEO of Cyclo Therapeutics, also shared his excitement about the merger, highlighting the strength of the combined entities. He acknowledged the partnerships nurtured with Rafael Holdings over the past two years, which have contributed to Cyclo Therapeutics’ current position in the industry. The focus on delivering substantial trial results for both shareholders and patients continues to remain paramount.
Expert Guidance in the Merger
The merger process has been supported by experienced legal and financial advisors. Schwell Wimpfheimer & Associates acted as the legal advisor for Rafael Holdings, while Fox Rothschild LLP provided legal counsel to Cyclo Therapeutics. Cassel Salpeter & Co. served as the financial advisor to the special committee of Cyclo Therapeutics’ Board of Directors, ensuring a smooth transaction.
About Rafael Holdings, Inc.
Rafael Holdings, Inc. is a progressive biotechnology company actively investing in clinical and early-stage pharmaceutical endeavors. Notably, the company has a vital interest in Cyclo Therapeutics, LLC, and is dedicated to advancing the development of Trappsol Cyclo™. With advances in clinical trials and a growing portfolio, Rafael Holdings aims to make a significant impact in addressing rare and debilitating diseases.
Focus on Cyclo Therapeutics
Cyclo Therapeutics, a wholly owned subsidiary of Rafael Holdings, is devoted to developing transformative medicines through innovative approaches. Its lead product, Trappsol Cyclo™, has gained orphan drug designation in the United States and Europe, emphasizing its significance in treating Niemann-Pick Disease Type C1. Furthermore, ongoing clinical trials reflect the commitment to improving the lives of patients grappling with serious health challenges.
Commitment to Innovation
The combined expertise of Rafael Holdings and Cyclo Therapeutics aims to innovate and deliver impactful therapies. Cyclo is also exploring the use of Trappsol Cyclo™ in indications like early-stage Alzheimer’s disease, based on promising data from prior clinical programs. Their diverse pipeline reflects a robust commitment to research and development in the biotechnology sector.
Frequently Asked Questions
What are the main goals of the merger between Rafael Holdings and Cyclo Therapeutics?
The merger aims to enhance clinical trial capacities and address unmet medical needs in biotechnology, particularly for rare diseases.
What is Trappsol Cyclo™ and its significance?
Trappsol Cyclo™ is a lead clinical asset under Rafael Holdings, aimed at treating Niemann-Pick Disease Type C1, highlighting the company's commitment to rare diseases.
Who are the key leaders involved in this merger?
Bill Conkling, President and CEO of Rafael Holdings, and N. Scott Fine, CEO of Cyclo Therapeutics, play significant roles in the strategic direction following the merger.
How will this merger benefit patients?
By combining resources, the merger seeks to accelerate the development of innovative therapies that can significantly improve patient outcomes in serious health conditions.
What is the future outlook for the combined companies?
The combination is expected to foster innovation and expedite clinical trials, paving the way for potential breakthroughs in rare diseases and enhanced treatments.
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