Virex Pharma and Respien sign Binding Agreement to Merge
Virex Pharma Ltd (Virex) is pleased to announce it has signed an exclusive binding agreement to merge with Respien Pty Ltd (Respien) subject to completing due diligence and shareholder approval. The merger accelerates Virex’s growth in terms of product pipeline and people. The end structure will see Respien shareholders holding 75% of the entity while Virex’s current shareholders will hold 25%.
Details of the structure and process to achieve the merger will be determined during the due diligence process. Information on each company can be found on the respective web-sites, www.respien.com.au and www.virexpharma.com. Please refer to company profiles attached for both Respien and Virex.
Respien is a clinical stage drug development company working in the respiratory disease sector focused on lung conditions such as chronic obstructive pulmonary disease (COPD), interstitial lung disease and cystic fibrosis. Its lead product, H1-164, is in Phase II clinical trials for treatment of COPD.
Pipeline. The merger will expand Virex’s technology range in respiratory medicine field to include:
a) GlyXine to treat important viral lung infections, such as RSV (Respiratory Syncytial Virus), which is significant problem in infants and elderly. In addition, GlyXine is also a key candidate to treat Dengue fever and viral encephalitis,
b) HI-164 (from Respien), to prevent bacterial lung infections and
c) TA-270 (from Respien), to reduce inflammation, reduce oxidative stress and improve the integrity of lung tissue.
The merger puts Virex on a path to creating a significant respiratory drug development business.
People. The management and Board will be strengthened with the addition of executives with Australian biotech leadership experience. It is anticipated one executive and 2 – 3 nonexecutive directors will join the combined group. The combined Scientific Advisory Board will include three distinguished clinical researchers, to produce what we believe to be one of exceptional international experience. The companies will establish a joint working group and expect the merger to be completed within about 2 months. Further information will be provided as the progress evolves.
For media inquiries or further information,please contact:
[Ms Rolee Kumar roleek@virexpharma.com]
About Virex Pharma & Respien:
Virex Pharma Ltd (www.virexpharma.com.au) is an innovative biopharmaceutical company dedicated to developing antiviral therapies for infections caused by RSV, COVID-19 and Dengue viruses. With a focus on addressing critical unmet medical needs, Virex’s research and development efforts aim to revolutionise the treatment landscape for viral infections. Through cutting-edge science, rigorous clinical investigations, and strategic partnerships, Virex strives to bring breakthrough therapies to patients worldwide.
Respien Pty Ltd (www.respien.com.au) is a clinical stage drug development company focused on chronic obstructive pulmonary disease (COPD) including their lead product, H1-164 relating to an oral preventative (therapeutic vaccine) to bacterial Haemophilus influenzae, and their second project, TA-270, relating to a unique dual action to reduce inflammation and oxidative stress, a cause of fibrosis, DNA damage and disease progression.
