Aditxt Inc (NASDAQ: ADTX), in a statement, announced that the group had inked a binding agreement with AiPharma Global Holdings LLC. As per the binding agreement, the AiPharma Global Holdings LLC group will sell its assets through one of the group’s subsidiaries to the purchaser, Aditxt Inc.
AiPharma holds exclusive rights to a range of oral antiviral drugs
AiPharma is a biopharmaceutical company that has to its credit the exclusive rights to a series of oral antiviral drugs that are used to treat infectious diseases. According to the binding agreement to which both the companies agreed, Aditxt will take over the company. Aditxt will fund AiPharma, in the form of a bridge loan. The same is one of the critical factors that are critical in the process of acquisition. However, the process of acquisition is subject to and depends on specific terms and conditions. With this takeover, Aditxt Inc will be in the limelight. The group works on ways to prevent, monitor, and treat a range of diseases in the infectious category.
AiPharma earns income through the sale of Avigan drugs
Avigan medicine is sold across the world. AiPharma’s income comes from the sale through the 50% equity stake the group holds in Global Response Aid (GRA). With the coronavirus pandemic spreading like wildfire, the sale of Avigan has spiked globally. If numbers are to be believed, in 2021 alone, the sales of Avigan medicine have crossed $150 million. The same translates to 1.5 million COVID-19 positive patients treated with Avigan. As a result, the dependency on the drug has peaked in 2021.
Important business highlights of AiPharma
The Avigan drug is granted the authorization to be marketed. Furthermore, the emergency usage of medicine in a plethora of markets is sanctioned. It is legal to use the Avigan medicine in Mexico, India, Indonesia, Thailand, and Malaysia. Besides this, it is understood that countries like the U.K., UAE, Greece, Hungary and Saudi Arabia are authorized to purchase the medicine under the compassionate use programs.
Appili Therapeutics Inc (OTCMKTS: APLIF) will be taken over by AiPharma, according to a recent agreement
Appili Therapeutics Inc (OTCMKTS: APLIF) is back in the news. AiPharma will take over a significant stake in the company as per a recent agreement. According to the scripted agreement, it is anticipated that AiPharma will acquire as much as 19.4% of both issued and outstanding Appili shares. If all works well, the deal will be sealed in 4Q 2021.