Late-stage specialty pharmaceutical company PLx Pharma has completed its previously announced merger with Dipexium Pharmaceuticals.
The combined company, also known as PLx Pharma, will focus on commercialising two patent-protected products, namely, 325mg of Aspertec and 81mg of Aspertec (jointly referred to as Aspertec).
Go deeper with GlobalData
PLx president and chief executive officer Natasha Giordano said: “With the successful completion of this merger, we have strengthened the foundation of PLx and are now well positioned to advance our development efforts for Aspertec and prepare for commercialisation of this important cardiovascular product.”
With the merger now complete, PLx Pharma will complete the manufacturing scale-up and label finalisation for its FDA-approved 325mg of Aspertec aspirin dosage form.
The company will also submit a supplemental new drug application (sNDA) for an 81mg of Aspertec maintenance dose form.
See Also:
Aspertec is designed to provide reliable and predictable antiplatelet efficacy to high-risk cardiovascular and stroke patients compared to enteric coated aspirin.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataUnder this merger, Dipexium carried out a reverse stock split of its issued and outstanding shares of common stock at a ratio of 1-for-8.
PLx shareholders received shares of common stock in the combined company representing 76.75% of the outstanding shares of the combined company as merger consideration.
There were 6.3 million shares of the combined company's outstanding common stock immediately following the merger.
The combined company will continue to be led by the PLx management team.
Michael Valentino will assume the role of executive chairman of the board of directors, while Natasha Giordano will serve as president and chief executive officer of the merged entity.
