Ohr Pharmaceutical Announces Merger Agreement with NeuBase Therapeutics

Ohr Pharmaceutical (Nasdaq:OHRP) announced today that it has entered into a definitive merger agreement with NeuBase Therapeutics, under which the stockholders of NeuBase would become the majority holders of the combined company.

As quoted in the press release:

Upon closing of the transaction, the combined company will change its name to “NeuBase Therapeutics, Inc.” and propose its trading symbol on the NASDAQ be changed to “NBSE”. The executive team of NeuBase will serve as the executive team of the combined company, led by Dietrich A. Stephan, Ph.D. as Chief Executive Officer.

“We are excited to enter into a definitive merger agreement with NeuBase, a company with a powerful technology and pipeline that has the potential to address multiple unmet medical needs across a range of serious genetic diseases,” said Jason Slakter, M.D., Chief Executive Officer of Ohr Pharmaceutical. “Following a comprehensive review of strategic alternatives, Ohr’s Board of Directors concluded that the proposed transaction with NeuBase is in the best interest of our stockholders. The proposed merger will provide an opportunity to create value as an innovative, science-driven company with a proprietary technology platform utilizing advanced gene silencing techniques. We intend to hold a special meeting of Ohr shareholders in the first half of 2019 to vote on this merger.”

Click here to read the full press release.