JERUSALEM, Aug. 3, 2021 /PRNewswire/ -- Intec Parent, Inc. (NASDAQ: NTEC) ("Intec Parent" or the "Company"), today announced
that the pending and previously announced reverse merger (the
"Decoy Merger") with Decoy Biosystems, Inc. ("Decoy") is currently
expected to close after market hours today, Tuesday, August 3, 2021, subject to satisfaction
or waiver of all closing conditions.
Immediately following the closing, the combined company will be
renamed "Indaptus Therapeutics, Inc.", and is expected to begin
trading on The Nasdaq Capital Market under the new ticker symbol
"INDP" upon the commencement of trading on Wednesday, August 4, 2021.
In connection with the Decoy Merger and the previously announced
domestication merger (which was consummated on July 27, 2021 and is one of the closing
conditions of the Decoy Merger), after which Intec Pharma Ltd.
("Intec Pharma") became a wholly owned subsidiary of the Company
(the "Domestication Merger"), a request was made for the Nasdaq
Stock Market LLC to file with the Securities and Exchange
Commission an application on Form 25 to delist and deregister the
ordinary shares of Intec Pharma under Section 12(b) of the
Securities Exchange Act of 1934, as amended.
Additional information about Decoy Merger and the Domestication
Merger can be found in the Company's proxy statement/prospectus
included in the registration statement on Form S-4 filed with the
Securities and Exchange Commission on May
12, 2021, a copy of which is also available
at www.sec.gov or
at https://www.intecpharma.com.com/ under the SEC Filings
tab located on the Investor Relations page.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state.
About Intec Parent
Intec Parent is a clinical-stage
biopharmaceutical company focused on developing drugs based on its
proprietary Accordion Pill platform technology. The Company's
Accordion Pill is an oral drug delivery system that is designed to
improve the efficacy and safety of existing drugs and drugs in
development by utilizing an efficient gastric retention and
specific release mechanism. For more information,
visit www.intecpharma.com. Intec
Parent routinely posts information that may be important to
investors in the Investor Relations section of its website.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act. These
include statements regarding management's expectations, beliefs and
intentions regarding, among other things, our product development
efforts, business, financial condition, results of operations,
strategies, plans and prospects. Forward-looking statements can be
identified by the use of forward-looking words such as "believe",
"expect", "intend", "plan", "may", "should", "could", "might",
"seek", "target", "will", "project", "forecast", "continue" or
"anticipate" or their negatives or variations of these words or
other comparable words or by the fact that these statements do not
relate strictly to historical matters. Forward-looking statements
relate to anticipated or expected events, activities, trends or
results as of the date they are made. Because forward-looking
statements relate to matters that have not yet occurred, these
statements are inherently subject to risks and uncertainties that
could cause our actual results to differ materially from any future
results expressed or implied by the forward-looking statements.
Many factors could cause actual activities or results to differ
materially from the activities and results anticipated in
forward-looking statements, including, but not limited to, the
following: risks associated with Intec
Parent's and Decoy's ability to consummate the Decoy Merger
and the timing of the closing of the Decoy Merger, including the
risks that a condition to closing would not be satisfied within the
expected timeframe or at all or that the closing of the Decoy
Merger will not occur; risks related to the ability to consummate
certain closing conditions; the occurrence of any event, change, or
other circumstances that could give rise to the termination of the
merger agreement; the outcome of any legal proceedings that may be
instituted against Intec Parent or
Decoy following the announcement of the merger agreement and the
transactions contemplated therein; unanticipated difficulties or
expenditures relating to the Decoy Merger; the response of business
partners and competitors to the announcement of the Decoy Merger,
and/or potential difficulties in employee retention as a result of
the announcement and pendency of the Decoy Merger; the occurrence
of any event, change, or other circumstance that could give rise to
the termination of the merger agreement or could otherwise cause
the transaction to fail to close; the inability to list the merger
shares on Nasdaq or maintain the listing of the combined company's
shares of common stock on Nasdaq following the Decoy Merger; and
the ability to recognize the anticipated benefits of the Decoy
Merger. Risks and uncertainties relating to Decoy that may cause
actual results to differ materially from those expressed or implied
in any forward-looking statement include, but not limited to:
Decoy's plans to develop and potentially commercialize its
technology, the timing and cost of Decoy's planned investigational
new drug application and any clinical trials, the completion and
receiving favorable results in any clinical trials, Decoy's ability
to obtain and maintain regulatory approval of any product
candidate, Decoy's ability to protect and maintain its intellectual
property and licensing arrangements, Decoy's ability to develop,
manufacture and commercialize its product candidates, the risk of
product liability claims, the availability of reimbursement, the
influence of extensive and costly government regulation, and
Decoy's estimates regarding future revenue, expenses capital
requirements and the need for additional financing following the
Decoy Merger. These risks, as well as other risks and uncertainties
associated with the Decoy Merger, are discussed in the proxy
statement/prospectus that is included in the registration statement
on Form S-4 that was filed with the SEC in connection with the
Decoy Merger. All forward-looking statements speak only as of the
date of this presentation and are expressly qualified in their
entirety by the cautionary statements included in this
presentation. Neither Intec Parent
nor Decoy undertake any obligation to update or revise
forward-looking statements to reflect events or circumstances that
arise after the date made or to reflect the occurrence of
unanticipated events, except as required by applicable law.
Intec Parent Investor Contact:
Will O'Connor
Stern IR
+1 212-362-1200
will@sternir.com
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SOURCE Intec Parent, Inc.