Pharma Two B to Merge with Hepion Pharmaceuticals and Raise $11.5 Million via PP

July 22, 2024

DENVER, Colo., Jul 22, 2024 (247marketnews.com)- Hepion Pharmaceuticals, Inc. (Nasdaq:HEPA) stated that it agreed to merge with Pharma Two B Ltd., a late-clinical stage private Israeli company that is developing a Parkinson’s Disease treatment, P2B001.

Dan Teleman, Pharma Two B’s CEO, commented, “P2B001 offers a novel, easy-to-use therapeutic approach, that is designed to address the unmet need for an effective, safe, once-daily, no titration required treatment with a lower incidence of excessive daytime sleepiness—a common side effect of currently available dopamine agonist treatments in Parkinson’s disease patients.

“As we advance P2B001’s development following the successful completion of our Phase 3 clinical trial, we believe it is the right time to enter the public equity markets. Our company is in a stage that we believe meets the public market and investors’ expectations. We are excited about Pharma Two B’s next growth phase, moving P2B001 towards an NDA submission targeted for the first half of 2026 and making this potential treatment available to patients.

The merger includes a $11.5 million concurrent private financing and current Pharma Two B shareholders are projected to own approximately 44.5% of the combined company, current Hepion shareholders approximately 7.8% of the combined company, and investors in the concurrent private financing approximately 47.7% of the combined company.

John Brancaccio, Hepion’s Executive Chairman, stated, “Consistent with our December 7, 2023 announcement, the Hepion Board of Directors conducted a review of multiple strategic alternatives to identify paths to provide value to our stockholders. We believe the transaction we are announcing today with Pharma Two B Ltd. presents an excellent opportunity for our shareholders to become a part of a company poised to file an NDA in a therapeutic area with a major unmet medical need.”

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