On July 28, 2021 Cytocom Inc. ("Cytocom" or "Company"), a leading biopharmaceutical company creating next-generation therapies that focus on immune homeostasis, reported the completion of its merger with Cleveland BioLabs, Inc (Press release, Cleveland BioLabs, JUL 28, 2021, View Source [SID1234585275]). The all-stock transaction was first announced on October 19, 2020.
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Shares of the new Cytocom’s common stock will begin trading on Nasdaq under the ticker symbol "CBLI," at the opening bell on Wednesday, July 28, 2021.
As previously reported, the newly combined company will operate as "Cytocom, Inc." under the leadership of the existing Cytocom management team led by CEO Michael K. Handley. Mr. Handley now serves as the new company’s President and CEO.
"With the merger completed, we look forward to further advancing our late-stage clinical programs and expanding what we believe to be one of the largest toll-like receptor platforms in the industry," said Michael K. Handley. "This merger, coupled with our acquisition of ImQuest Life Sciences and the listing of the new Cytocom common shares on Nasdaq, represents a transformative growth opportunity and fits firmly with our goal of becoming a recognized leader in immune-modulating therapies targeting cancer, ARS, inflammatory and autoimmune diseases, and viruses, including COVID-19. Looking forward, we anticipate achieving multiple commercial, regulatory and clinical milestones over the next 12 to 18 months that should enable us to showcase the power of our drug development platform and further generate shareholder value."
McGuireWoods LLP represented Cleveland BioLabs and Troutman Pepper Hamilton Sanders LLP represented Cytocom in the merger.