Rafael Holdings Inc. (NYSE: RFL) and Cyclo Therapeutics Inc. (Nasdaq: CYTH) have agreed to merge to focus on the development of Trappsol Cyclo for the treatment of Niemann-Pick Disease Type C1.
Following the closing, Rafael Holdings intends to fund the TransportNPC clinical trial to its 48-week interim analysis. Rafael Holdings made its first strategic investment in Cyclo Therapeutics in March 2023 to help drive treatment innovation for patients with the debilitating diagnosis of Niemann-Pick Disease Type C1. Rafael Holdings led another financing round in the fall of 2023 and has continued to support Cyclo Therapeutics via convertible debt financings in 2024.
Cassel Salpeter & Co. is acting as financial advisor to Cyclo Therapeutics in connection with the transaction. Schwell Wimpfheimer & Associates is serving as legal advisor to Rafael Holdings and Fox Rothschild LLP is serving as legal advisor to Cyclo Therapeutics.