RICHMOND, Va.--(BUSINESS WIRE)--Aditxt Inc. (Nasdaq: ADTX), a biotech innovation company with a mission to improve the health of the immune system, has signed a share exchange agreement to acquire AiPharma Global Holdings LLC, a wholly-owned subsidiary of AiPharma Group Ltd. (“AiPharma”). The share exchange agreement contemplates that the transaction would involve two steps. First, an initial closing is expected to occur upon the satisfaction of certain conditions no later than January 31, 2022, at which Aditxt will acquire 9.5% of the issued and outstanding equity interests in AiPharma in exchange for the issuance of approximately 4.8 million shares of common stock of Aditxt and a cash payment of $250,000. Second, Aditxt would then acquire the remaining 90.5% of the issued and outstanding equity interests in AiPharma in exchange for the issuance of approximately 39.9 million shares of common stock of Aditxt and a cash payment of $250,000 at a secondary closing, subject to the satisfaction or waiver of certain conditions to closing, including, but not limited to, shareholder and Nasdaq approval.
COVID sufferers in the UK are now able to access a course of tablets from their GP to avoid the need for hospitalisation. AiPharma’s antiviral treatment, favipiravir, is currently taken orally over a course of 7-14 days.