Cytocom Closes Merger with Cleveland BioLabs.
MANews-(C)2009-2021
US-based biopharmaceutical companies Cytocom, Inc and Cleveland BioLabs, Inc., (NASDAQ: CBLI) have closed a merger to combine their businesses in an all-stock transaction, the companies said.
This deal was announced last October.
Cytocom shareholders will have a majority position in the newly combined entity.
Shares of the new Cytocom's common stock began trading on NASDAQ under the ticker symbol "CBLI," at the opening bell on Wednesday, July 28, 2021.
Each party to the proposed merger believes that the combined company will create near-term commercial opportunities in numerous areas of significant unmet medical needs including acute radiation injury, oncology, infectious disease, inflammation and autoimmune-mediated conditions, with multiple commercial, regulatory and clinical milestones expected over the next 12 to 18 months.
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