Aditxt Inc. (NASDAQ: ADTX), a biotech innovation company with a mission to improve immune system health, has acquired AiPharma Global Holdings LLC, a subsidiary of AiPharma Group Ltd.
AiPharma holds the exclusive rights to Avigan and all formulations of Favipiravir which is a broad spectrum oral antiviral drug targeting Covid-19 and other infectious diseases. The deal will result in an enhanced value proposition for both firms and will enable detection, prevention and treatment services for infectious diseases and an expansion of global distributors.
“We are taking steps that we believe will transform Aditxt into a fully-integrated commercial-stage global biopharmaceutical business, with focus on all aspects of immune diagnosis and therapeutics,” added Aditxt co-founder and CEO Amro Albanna. “The proposed transaction with AiPharma would commercially establish Aditxt in the infectious disease space complementing our current therapeutic programs in autoimmunity, dermatology, organ transplantation, and central nervous system.”
“The acquisition of AiPharma, with our strong commercial portfolio and robust pipeline, will support Aditxt’s near-term ambition to develop novel therapies and technologies in areas of immunology with a high unmet medical need,” added Alessandro Gadotti, CEO of AiPharma. “We are delighted at the prospect of being acquired by Aditxt at this exciting juncture in their journey; AiPharma will help fuel strategic growth and deliver future pipeline and M&A activities so that even more patients can access critical medicines and technologies now and in the future.”