Aditxt Provides an Update Regarding its Target Acquisition AiPharma Global Holdings LLC

Rhea-AI Summary

Aditxt, Inc. (NASDAQ: ADTX) announced that the Phase 3 PRESECO trial of Avigan®/Reeqonus™ for COVID-19 did not meet its primary endpoint of time to sustained clinical recovery. Ongoing data analysis is expected. Additionally, Aditxt is in the process of acquiring a subsidiary of AiPharma Global, which holds rights to the antiviral favipiravir. This acquisition aims to enhance Aditxt's portfolio in antiviral therapies to address infectious diseases. CEO Amro Albanna emphasized the importance of evaluating the trial outcomes in conjunction with AiPharma Global.

Positive

• Acquisition of AiPharma Global's subsidiary may strengthen Aditxt's antiviral portfolio.
• Access to exclusive rights of favipiravir could expand market opportunities.

Negative

• Phase 3 PRESECO trial failed to achieve statistical significance on its primary endpoint.
• Ongoing data analysis may lead to further implications for product development timelines.

RICHMOND, Va.--(BUSINESS WIRE)-- Aditxt, Inc. (“Aditxt”) (Nasdaq: ADTX), a biotech innovation company with a mission to improve the health of the immune system, today announced that the global Phase 3 PRESECO (PREventing SEvere COVID-19) trial evaluating oral Avigan®/Reeqonus™ (favipiravir) as a potential at-home therapy for patients with mild-to-moderate COVID-19, which was being run by Appili Therapeutics, Inc. (“Appili”)(TSX: APLI), a consortium partner of AiPharma Global Holdings LLC (“AiPharma Global”), did not achieve statistical significance on the primary endpoint of time to sustained clinical recovery. Additional analyses of the trial data are ongoing.

As previously announced, Aditxt has entered into a transaction agreement to reach a definitive agreement by the end of November 2021 to acquire a subsidiary of AiPharma Global which is to own all of the assets of AiPharma Global, a company focused on discovering, developing and commercializing antiviral therapies across a broad spectrum of infectious diseases. AiPharma Global is a biopharmaceutical company that holds directly, or through its affiliates worldwide (excluding Japan), exclusive rights to Avigan/Reeqonus/Qifenda and all formulations of favipiravir, a broad spectrum oral antiviral drug that targets COVID-19 and other infectious diseases.

“We are reviewing and evaluating the announced results and data, and will be discussing them with AiPharma Global to determine the best course of action,” stated Aditxt Co-Founder and CEO Amro Albanna.

The full text of Appili’s release can be found at: https://www.appilitherapeutics.com/news.

About Aditxt:

Aditxt is developing technologies focused on improving the health of the immune system through immune monitoring and reprogramming. Aditxt’s immune monitoring technology is designed to provide a personalized comprehensive profile of the immune system. Aditxt’s immune reprogramming technology is currently at the pre-clinical stage and is designed to retrain the immune system to induce tolerance with an objective of addressing rejection of transplanted organs, autoimmune diseases, and allergies. For more information, please visit: www.aditxt.com.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements include statements regarding the Company’s intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the Company’s ongoing and planned product and business development; the Company’s intellectual property position; the Company’s ability to develop commercial functions; expectations regarding product launch and revenue; the Company’s results of operations, cash needs, spending, financial condition, liquidity, prospects, growth and strategies; the industry in which the Company operates; and the trends that may affect the industry or the Company. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, as well as those risks more fully discussed in the section titled “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s other filings with the Securities and Exchange Commission. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211112005622/en/

Media and Investor Relations Contact:

Aditxt, Inc.

ir@aditxt.com

Source: Aditxt, Inc.

FAQ

What were the results of the PRESECO trial for ADTX?

The PRESECO trial did not achieve statistical significance on the primary endpoint of time to sustained clinical recovery.

What is Aditxt's plan regarding the acquisition of AiPharma Global?

Aditxt plans to finalize the acquisition of AiPharma Global's subsidiary by the end of November 2021.

How could the acquisition benefit Aditxt?

The acquisition could enhance Aditxt's antiviral therapy offerings and provide exclusive rights to favipiravir.

What is favipiravir's significance in the acquisition?

Favipiravir is a broad-spectrum antiviral drug targeting COVID-19 and other infectious diseases, which could be crucial for Aditxt's future product lineup.