NeuroBo Pharmaceuticals acquired Anna Therapeutics in a privately held meeting. There was no report or any leaked information until seven months later when the whole truth came into the limelight.
ANA Therapeutics
ANA Therapeutics is a biotech startup that has been running for almost one year. Its focus is on creating and inventing new drugs from the available resources. The company behind the development of ANA-001, a capsule for coronavirus indications. It was last tested in July in Phase 2/3 for Covid-19 treatment. Both boards approved the drug, a report by neurobopharm.
ANA Therapeutics joins NeuroBo
Since the ANA Therapeutics and NeuroBo worked together, they decided to expand their roots. The merger occurred in December 2020 during a harsh pandemic period. The CEO and president of NeuroBO, J. Kang, had this to say. “This is an exciting and transformative acquisition for NeuroBo. It will expand our pipeline with late-stage clinical development programs. We will focus on addressing the urgent need for new treatments to fight Covid-19, a highly infectious and often deadly virus,”
ANA-001
Through some clinical pathways and moderation, ANA-001 is advancing. They aim at accelerating the rate of completing the project. The CEO admitted that if the drugs work, then NeuroBo will be recognized in the market. However, their main aim is to save a life. During the third quarter, the company tested its Phase 2 portion of ANA-001 to verify its power.
The vaccine will play a major role in reducing the inadequacy of the drug in poor nations. However, there is a huge gap as the covid19 variant mutates daily, a report by crunchbase.
There is a need for companies to collaborate to come up with a complex solution for covid-19. Irene Kim, the board chair, said that people should be ready for therapy and the Covid-19 vaccine annually. Furthermore, they are very hopeful that the ANA-001 will turn out to be the best vaccine.
A word from both CEOs
The CEO of ANA Therapeutics praised the merger, calling it the best partnership. He proceeded, “We are delighted to join with the NeuroBo team to bring ANA-001 to the millions infected with COVID-19. NeuroBo has the leadership and platform to support the accelerated development of ANA-001. This important compound as a potential treatment for this viral pandemic.”
ANA therapeutics started working on the project after the Covid-19 had worsened in the US. It was aimed to treat patients who had severe or moderate covid19. So they mixed it with Niclosamide, an anti-inflammatory and antiviral agent which has been in the industry for many years. Almost 20 clinics have tested the drug in the US. For sure, abnormalities observed in Covid-19 can be downstream by Niclosamide.
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When did NeuroBo absorb ANA Therapeutics?
NeuroBo fully absorbed ANA equity holders for approximately 3.24 million shares. This means they will own 19.7% of NeuroBOs total shares. Once the underway projects are successful, the ANA stakeholders will get payments. AS per the analysis, ANA-001 is expected to have huge sales. The achievements of both companies will attract many investors.
Like any startup, whenever it makes a huge positive attempt in the market, it qualifies. Many other larger companies will tend to buy it. NeuroBo sees a potential opportunity in the ANA Therapeutical startup. Joining together means getting much traffic from both sides. The clients, customers, and retailers from the two companies will work together. When you trust a brand, then anything related to it is good.
NeuroBO has employed three top ANA executives. They include Akash Bakshi as Senior Vice President and Nadja Mannowetz as Operating Officer. Furthermore, Andrew Bartynski recently joined ANA Therapeutics.
NeuroBo Pharmaceutical
NeuroBo Pharmaceuticals Inc. is a biotechnology clinical that focuses on commercializing multimodal therapies. It deals with cardiometabolic and neurodegenerative diseases. The main reason for merging with ANA Therapeutics was to find a better solution t Covid-19.
The company has many things to achieve before the year ends. With the merger, the CEO confirmed that they have been working well for the past six months, and they were silent. The two heads that combined seem to bore many fruits. They are planning to set up many branches across the world in the coming 5 years.
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