AiPharma, a Malaysian company discovering, developing and commercialising antiviral therapies across a broad spectrum of infectious diseases, has entered a binding agreement to sell all of its assets to Aditxt.
Based in Richmond, Virginia, Aditxt is a biotech innovation company with a mission to improve the health of the immune system.
AiPharma holds directly, or through its affiliates worldwide (excluding Japan), exclusive rights to Avigan/Reeqonus / Qifenda and all formulations of favipiravir, a broad spectrum oral antiviral drug that targets COVID-19 and other infectious diseases.
The agreement follows Aditxt’s prior announcement on August 25, 2021 to acquire the company and Aditxt’s funding of a bridge loan to AiPharma, a key term toward completion of the acquisition, subject to certain closing conditions.
The acquisition will form a business segment for Aditxt that is focused on the prevention, treatment, and monitoring of infectious diseases.
Dr Alessandro Gadotti, CEO of AiPharma Group commented, “We believe that the combination of Aditxt and AiPharma is uniquely positioned to address the key topics of the COVID-19 pandemic, starting from monitoring of immune status and outpatient treatment for the illness.
“We have treated in excess of 1.5 million patients with our antiviral tablets. The strength of oral antiviral treatments such as Avigan/Reeqonus in real terms is that they fight COVID-19 in the community and not in hospitals – which can significantly reduce pressures on healthcare systems.
“Our joint product portfolio puts us on the front line in the fight against COVID-19 and future pandemic preparedness.”