Aditxt Shares Surge On AiPharma Acquisition, Holder Of COVID-19 Candidate

Aditxt Inc ADTX has agreed to acquire AiPharma Global Holdings LLC, focused on discovering, developing, and commercializing antiviral therapies.
AiPharma Global holds 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.
The binding agreement follows Aditxt's prior announcement to acquire the company and Aditxt's bridge loan funding to AiPharma Global for $6.5 million.
The acquisition will form a business segment for Aditxt that focuses on monitoring and treating infectious diseases.
Key terms of the agreement include an increase in secured loan from Aditxt to AiPharma Global by $8.5 million resulting in total availability of $15 million.
AiPharma Global has recently agreed to acquire a major stake in Appili Therapeutics Inc APLIF to strengthen its collaboration on developing favipiravir and other treatments for infectious diseases.
Price Action: ADTX stock is up 7.32% at $1.69 during the market session on the last check Tuesday.