Entero Therapeutics, Inc. announced on March 24, 2025, that it has signed a rescission agreement with ImmunogenX, LLC (IMGX) to unwind their business combination, which had closed on March 14, 2024.
This rescission agreement is subject to Entero receiving shareholder approval by June 30, 2025. Unwinding the transaction is expected to strengthen Entero's balance sheet, refocus its value creation strategy, and provide flexibility for both companies.
Under the terms, Entero will retain a portion of IMGX's accounts payable, while IMGX will assume responsibility for its secured debt of approximately $9.28 million. Additionally, Anna Skowron joined Entero as Chief Financial Officer, effective March 3, 2025, bringing over 14 years of accounting experience.
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