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Indaptus Therapeutics (Nasdaq: INDP), formerly Intec Parent, announced the closure of its merger with Decoy Biosystems and a $30 million private placement. Starting August 4, 2021, Indaptus will trade under the ticker 'INDP.' The merger aims to advance a novel immunotherapy platform targeting various tumors and chronic viral infections. The company will utilize the funds for working capital and plans to move its first immunotherapy program into clinical trials next year. Approximately 5.4 million shares will be outstanding post-merger.
Intec Parent, Inc. (NASDAQ: NTEC) has announced the anticipated closing of its reverse merger with Decoy Biosystems, Inc. to occur after market hours on August 3, 2021. Following the merger's completion, the combined entity will be renamed Indaptus Therapeutics, Inc. and will commence trading on Nasdaq under the new ticker symbol INDP from August 4, 2021. The company also executed a domestication merger that has made Intec Pharma a wholly owned subsidiary. The merger aims to blend both companies' strengths in developing advanced medical treatments.
Intec Pharma Ltd. (NASDAQ: NTEC) announced a $30 million private placement with a healthcare-focused institutional investor, a condition for its reverse merger with Decoy Biosystems. Intec plans a 1-for-4 reverse share split to meet Nasdaq listing requirements, effective after market close on July 26, 2021. Following the split, a domestication merger will convert Intec Israel's shares into common stock of Intec US. The private placement proceeds will be used for working capital and is expected to close around August 3, 2021, contingent upon customary conditions being met.
Intec Pharma filed its annual report on Form 10-K for the year ended December 31, 2020, with the SEC. The report is accessible through Intec’s website under the 'Investors' section. Additionally, Intec announced a proposed merger with Decoy Biosystems, with plans to file a Registration Statement on Form S-4 that will serve as a proxy statement and prospectus for shareholders. Stakeholders are encouraged to read these filings for critical information regarding the merger.
Intec Pharma (NASDAQ: NTEC) has announced a definitive agreement to merge with Decoy Biosystems, a preclinical-stage biotech firm focused on innovative immunotherapies. This merger aims to leverage Decoy's technology for developing treatments targeting various tumors and chronic viral infections. Following the merger, former Decoy stockholders are expected to own approximately 75% of the combined entity. The merger is projected to close in Q3 2021, contingent upon shareholder approvals and other conditions. Intec's transition into immuno-oncology is anticipated to create significant shareholder value.
Intec Pharma Ltd. (NASDAQ: NTEC) announced a feasibility agreement with GW Research Limited to explore the Accordion Pill platform for a yet undisclosed research program. CEO Jeffrey A. Meckler expressed excitement over the collaboration, highlighting its potential to advance innovative therapeutics. Intec Pharma specializes in developing drugs using its Accordion Pill technology, which aims to enhance the efficacy and safety of existing and new medications. Additional details of the agreement were not disclosed, and a cautionary note regarding forward-looking statements was included in the release.
Intec Pharma Ltd. (NASDAQ: NTEC) reported its third-quarter financial results for 2020, showcasing a significant 82% decrease in net loss to approximately $3.7 million, compared to $20.4 million in Q3 2019. R&D expenses fell 75% to $2.1 million, reflecting completed studies and reduced headcount. The balance sheet strengthened with cash equivalents at approximately $17.1 million. The company is progressing with new collaborations, particularly with Merck, and aims to advance its AP-THC program into clinical development by year-end.
Intec Pharma Ltd. (NASDAQ: NTEC) announced a 1-for-20 reverse share split effective after trading closes on October 29, 2020. This split reduces the number of outstanding shares from approximately 79 million to 3.9 million, while the authorized shares decrease from 350 million to 17.5 million. The resulting share price is expected to increase, potentially attracting more institutional investors. Shareholders will retain their ownership percentage, with fractions rounded up to the nearest whole share.
Intec Pharma Ltd. (NASDAQ: NTEC) announced a new research collaboration with MSD, the trade name of Merck & Co., enhancing their existing partnership. The terms of the agreement remain confidential. CEO Jeffrey A. Meckler expressed enthusiasm for leveraging combined expertise in drug delivery. Intec focuses on its proprietary Accordion Pill platform for improving drug efficacy and safety. This development is part of Intec's strategy to advance its clinical-stage biopharmaceutical efforts.
Intec Pharma Ltd. (NASDAQ: NTEC) announced that CEO Jeffrey A. Meckler will present at the virtual Oppenheimer Fall Healthcare Life Sciences & MedTech Summit from September 21-23, 2020. His presentation is scheduled for September 21 at 2:30 PM (ET) and will be formatted as a fireside chat. Investors can access the live webcast via Intec's website. Intec Pharma specializes in developing drugs using its Accordion Pill technology, aimed at improving drug efficacy and safety, with ongoing trials for treatments related to advanced Parkinson's disease and pain management.
