TapImmune has entered into a definitive merger agreement to acquire Marker Therapeutics, a privately-held clinical-stage developer of a transformative, non-genetically engineered, multi-antigen T cell therapy platform.
The proposed transaction will be a merger-of-equals under which the stockholders of TapImmune and Marker will each own approximately 50% of the combined company, prior to any issuances of additional shares in a contemplated financing.
“I believe that the new therapies we are acquiring with Marker in this transaction represent the next major leap forward in cell therapy for cancer,” said TapImmune’s President and CEO, Peter Hoang.
“The merger adds to our product pipeline a synergistic portfolio of highly-differentiated T cell therapies that has demonstrated potentially groundbreaking results in early clinical trials in lymphoma, acute myeloid leukemia (AML), and multiple myeloma.”
He added: “With this merger, I believe we have the opportunity to significantly disrupt the CAR-T and TCR field.”
In conjunction with the transaction, TapImmune intends to finalise a strategic alliance with Baylor College of Medicine which will include sponsored research, manufacturing support, and advancing early stage clinical trials at the institution.