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Akers Biosciences, Inc. (Nasdaq: AKER) and MyMD Pharmaceuticals, Inc. (MYMD) announced the successful completion of the merger at a special meeting held on April 15, 2021. Following the merger, the combined entity will be renamed MyMD Pharmaceuticals, Inc. and will trade under the new ticker symbol MYMD starting April 19, 2021. The company aims to advance its immunotherapy pipeline, particularly MYMD-1, designed to treat autoimmune diseases and extend human lifespan. A reverse stock split of 1-for-2 will be enacted, resulting in approximately 37.3 million shares outstanding.
Akers Biosciences (NASDAQ: AKER) has announced its merger with MyMD Pharmaceuticals, which is advancing a Phase 2 clinical trial for MYMD-1 to treat COVID-19 related depression. This landmark study, initiated due to a 52% depression prevalence in former COVID-19 patients, aims to explore inflammatory cytokines linked to the condition. If successful, MYMD-1 could address significant health needs while positioning Akers for growth in treating age-related diseases. Clinical development for MYMD-1 may extend to multiple sclerosis and other autoimmune conditions, representing a strategic opportunity for both companies.
Akers Biosciences (Nasdaq: AKER) announced that its merger partner, MyMD Pharmaceuticals, has established a Scientific Advisory Board (SAB) to guide its therapeutic developments aimed at extending healthy lifespan. The board is chaired by Dr. Katharine Whartenby from Johns Hopkins University, alongside experts in autoimmune and age-related diseases. This strategic formation aims to leverage their collective expertise to address unmet medical needs through MyMD’s platforms, MYMD-1 and SUPERA-CBD, targeting significant health issues.
Akers Biosciences (Nasdaq: AKER) announced a virtual general meeting for shareholders on April 15, 2021, to vote on a proposed business combination with MyMD Pharmaceuticals. The record date for voting is March 15, 2021. The merger aims to enhance MyMD's drug development platform, with products targeting chronic autoimmune diseases and the growing CBD market. CEO Chris Schreiber expressed optimism about the potential benefits of the combination. Further details and proxy materials will be provided to shareholders prior to the meeting.
Akers Biosciences, Inc. (Nasdaq: AKER) announced new data from a Eurofins Discovery study on MYMD-1, a drug targeting autoimmune and age-related diseases. The study indicates MYMD-1's potential to limit fibrotic biology associated with idiopathic pulmonary fibrosis (IPF) by inhibiting TGF-beta and TNF, showcasing its anti-fibrotic and anti-inflammatory properties. With nearly 100,000 US cases of IPF, this development addresses a significant treatment gap. MyMD plans to explore combinations of MYMD-1 with existing fibrosis drugs to enhance treatment efficacy.
Akers Biosciences (Nasdaq: AKER) announced a new study in PLOS ONE showing a significant correlation between temperature and COVID-19 transmission rates, indicating that warmer months slow transmission. The research found that a 1-degree Fahrenheit increase relates to a 1% decrease in transmission rates among 50 Northern Hemisphere countries. Dr. Adam Kaplin of MyMD Pharmaceuticals emphasized the need for effective COVID-19 therapeutics as the pandemic persists. Akers is also focused on developing a COVID-19 vaccine in collaboration with Premas Biotech.
Akers Biosciences, Inc. (NASDAQ: AKER) clarified that a press release regarding an earnings call by Aker ASA was mistakenly issued under its name. This press release is unrelated to Akers Biosciences, which has not scheduled any earnings calls. The Company is currently investigating the cause of this error and reserves the right to take necessary actions once more information is obtained.
Akers Biosciences (NASDAQ: AKER) and MyMD Pharmaceuticals have announced a definitive merger agreement aimed at enhancing their clinical pipeline and drug development capabilities. A conference call for investors is scheduled for November 18, 2020, to discuss the merger's impact. Akers is actively working on developing a COVID-19 vaccine in partnership with Premas Biotech, while MyMD focuses on innovative pharmaceutical solutions targeting autoimmune diseases and longevity.
MyMD Pharmaceuticals and Akers Biosciences have announced a definitive merger agreement, aiming to create a combined company that will be called MyMD Pharmaceuticals, Inc. The new entity will focus on advancing MyMD's immunotherapy pipeline, especially MYMD-1, a drug targeting autoimmune diseases and age-related conditions. Expected to close in H1 2021, Akers' shareholders will hold about 20% of the new company. Additionally, Akers will provide MyMD with a $3 million loan to support development. A private placement is also part of the strategy to raise $18 million.
Akers Biosciences, Inc. (NASDAQ: AKER) announced positive results from animal studies of its SARS-CoV-2 vaccine candidate, PRAK-03202, in collaboration with Premas Biotech. The study involved 50 mice, showing safety and a robust immune response at all tested doses (5, 10, and 20 micrograms). No adverse effects were reported, and the vaccine generated antibody levels comparable to those in convalescent patients. The companies are engaging with regulatory authorities in both India and the U.S. for future testing and IND submissions.