Entero Therapeutics, Inc. announced on November 13, 2024, that it has entered into a binding term sheet for a reverse merger transaction with Journey Therapeutics, Inc., a privately-held, clinical-stage biopharmaceutical company.
Upon completion of the proposed merger, Journey Therapeutics shareholders are expected to acquire 99% of the equity of Entero Therapeutics. The combined company is anticipated to operate under the name Journey Therapeutics, Inc., and will apply for continued trading on The Nasdaq Capital Market.
The completion of this transaction is subject to several conditions, including Entero receiving at least $5 million of equity financing, the effectiveness of a registration statement with the SEC, and the approval of Entero's stockholders. The new entity would prioritize advancing Journey's next-generation nano-immunoconjugates product candidates targeting gynecological cancers, advanced non-Hodgkin’s lymphoma, and other difficult-to-treat cancers, alongside Entero's existing clinical assets.
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