Cyclo Therapeutics, Inc. (Nasdaq: CYTH), a clinical stage biotechnology company, and Applied Molecular Transport Inc. (Nasdaq: AMTI), a biopharmaceutical company, have finalized their merger in an all-stock transaction.
The new company will retain the name Cyclo Therapeutics, Inc. and the ticker symbol CYTH, and will focus on developing a treatment for a rare and neurological disease called NPC1.
AMT shareholders will own about 18% of the combined company, which will be led by Cyclo Therapeutics’ management team and based in Gainesville, FL. Shawn Cross, former CEO and Board Chair of AMT, will join the Cyclo Therapeutics Board of Directors. MTS Health Partners, L.P., Fox Rothschild LLP, and Wilson Sonsini Goodrich & Rosati, P.C. served as advisors to the deal.
“The completion of this merger with Applied Molecular Transport represents a significant milestone and bolsters our confidence and excitement for the future of Cyclo Therapeutics. With the merger now closed and following our recent positive Type C meeting with the FDA, fundamentally the Company has never been stronger,” commented N. Scott Fine, CEO of Cyclo Therapeutics.
“Moving forward, we are focused on completing our Phase 3 study and executing on the regulatory submission process, assuming a successful outcome in our pivotal study. We remain dedicated to providing a much-needed treatment option for NPC patients.”
Blaize, a provider of AI-enabled edge computing solutions, to go public via merger with BurTech