News briefing: Small merger to advance anti-aging program; Sanger Institute spinout nabs $50M from Series C
Small-cap player Akers Biosciences $AKER has engineered a reverse merger with private company MyMD Pharmaceuticals.
The new combined biotech, which will retain the name MyMD, is expected to trade under the new ticker $MYMD once the transaction closes. MyMD will obtain an 80% stake in Akers, and the deal comes with an $18 million private placement that values the Akers at $1.85 per share, a roughly 7.5% premium above Wednesday’s closing price.
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