EUDA Health Holdings Limited Enters into Letter of Intent for Proposed Merger with TheoremRx Inc.
October 05 2023 - 9:00AM
EUDA Health Holdings Limited (“EUDA” or the
“Company”) (NASDAQ: EUDA), a Singapore-based digital health
platform that aims to make healthcare more affordable, accessible,
and improve the patient experience by delivering enhanced outcomes
through personalized healthcare, today announced that it has signed
a letter of intent dated October 4, 2023, with respect to the
proposed merger with TheoremRx Inc. (“TheoremRx”), a private
U.S.-based company focused on the development of new treatments
with safe administration, low toxicity, and a high potential for
polypharmacy usage to benefit patients suffering from cancer and
women’s health conditions.
The two parties have agreed to a 30-day
exclusivity period, which may be extended by an additional 15 days
by mutual agreement, to negotiate and conduct due diligence with
the aim of reaching a definitive agreement. Under the letter of
intent, TheoremRx would merge with a subsidiary of EUDA. The legal
structure, ownership stake, and name and branding after the
transaction will be determined through mutual agreement during the
due diligence phase.
“The proposed merger represents an exciting
opportunity for EUDA to bolster its market position through the
strategic combination with a biotech company with immediate growth
and innovation opportunity,” said Dr. Kelvin Chen, Founder and CEO
of EUDA. “We believe TheoremRx has strong access to capital and a
robust pipeline of compounds addressing high-demand unmet
therapeutic areas with near-term inflection points. Its project
portfolio is also pre-selected for high upside, with minimal time
and cost to reach key monetization milestones. By combining the
respective strengths of our two companies’ platforms, we believe
that we can help critical new biopharma treatments advance through
the clinical trial process while creating significant value for
shareholders.”
The completion of the merger is subject to
various conditions, including the negotiation of a definitive
agreement, regulatory approvals, and the satisfaction of customary
closing conditions. There can be no assurance that the merger will
be completed or that the proposed terms set forth in the letter of
intent will remain unchanged.
About TheoremRx Inc.
TheoremRx Inc. is a company focused on the
development of new treatments with safe administration, low
toxicity, and high potential for polypharmacy usage to benefit
patients suffering from cancer and women’s health conditions.
TheoremRx has built a broad portfolio of novel drug candidates
targeting unmet medical needs in large market indications where it
will advance each asset to partnering and licensing to global
pharmaceutical companies. The US-based company operates out of New
York, NY and Montreal, Quebec.
TheoremRx was founded on the basis of solving
two primary challenges facing biotech investors: reducing clinical
risk and reducing time to value. ThereomRx’s approach maximizes
upside with the least amount of time and cost to reach value
inflection points. Since its inception, TheoremRx has built a
portfolio of substantially de-risked clinical programs in oncology
and women’s health in two primary categories:
- new indications
of FDA-approved products (i.e., limited clinical risk; shortened
regulatory pathway); and
- de-risked
programs pre-selected for their significant efficacy signals and
little-to-no side effect profiles (i.e., minimal clinical risk)
which are developed only to end-of-Phase II POC.
In addition to significant novel product
development successes across multiple indications, the TheoremRx
management team and strategic partners have extensive experience
raising capital in public and private companies, having raised over
$1B in financings ranging from early-stage venture financings
through crossover rounds, and capital markets transactions
including PIPEs, IPOs, follow-ons, and debt financings.
About EUDA Health Holdings Limited
EUDA Health Holdings Limited is a
Singapore-based health technology company that operates a
first-of-its-kind Southeast Asian digital healthcare ecosystem
aimed at making healthcare affordable and accessible, and improving
the patient experience by delivering better outcomes through
personalized healthcare. The company’s proprietary unified AI
platform quickly assesses a patient’s medical history, triages a
condition, digitally connects patients with clinicians, and
predicts optimal treatment outcomes. EUDA Health’s holistic
approach supports patients throughout all stages of care, including
wellness & prevention, urgent care & emergencies,
pre-existing conditions, and aftercare services.
Forward Looking Statements
This press release may contain “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Such statements involve risks and uncertainties that could
negatively affect our business, operating results, financial
condition, and stock price. Factors that could cause actual results
to differ materially from management’s current expectations include
those risks and uncertainties relating to our competitive position,
the industry environment, potential growth opportunities, and the
effects of regulation and events outside of our control, such as
natural disasters, wars, or health epidemics. We expressly disclaim
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions, or circumstances on which any such statement is based,
except as required by law.
ContactChristensen Roger Hu
roger.hu@christensencomms.com +852.2232.3968
Euda Health (NASDAQ:EUDA)
Historical Stock Chart
From Nov 2024 to Dec 2024
Euda Health (NASDAQ:EUDA)
Historical Stock Chart
From Dec 2023 to Dec 2024