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TapImmune, Marker Therapeutics Close Merger-of-Equals Transaction.

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Vincent

MANews-(C)2009-2018

18 October 2018 - Florida, US-based immuno-oncology company TapImmune Inc. (NASDAQ: TPIV) has closed the acquisition of Minnesota, US-based Marker Therapeutics, Inc. a clinical-stage developer of a non-genetically engineered, multi-antigen T cell therapy platform, the company said.

The proposed transaction is a merger-of-equals under which the stockholders of TapImmune and Marker will each own approximately 50% of the combined company, prior to any issuances of additional shares in a contemplated financing.

The new company is expected to receive approximately USD 5.1m in equity financing through common stock purchase and warrant amendment agreements.

TapImmune is currently in discussions with a syndicate of leading healthcare-focussed institutional investors with respect to a potential financing in conjunction with the merger that will be expected to fund the combined company into 2020.

TapImmune, said the new therapies it is acquiring with Marker represent the next major leap forward in cell therapy for cancer.

The merger adds to the company's product pipeline a portfolio of highly-differentiated T cell therapies that has demonstrated potentially groundbreaking results in early clinical trials in lymphoma, acute myeloid leukemia, and multiple myeloma.

In conjunction with the transaction, TapImmune intends to finalise a strategic alliance with Baylor College of Medicine, which will include sponsored research, manufacturing support, and advancing early stage...

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