Protagenic Therapeutics Inc. and Phytanix Bio Inc. have announced a business combination to form a new entity, Phytanix, Inc. This merger, through an all-stock transaction, aims to consolidate their pipelines, focusing on stress-related and CNS disorders. The combined portfolio will include six drug candidates, with five in preclinical stages and one at the clinical stage. Key assets will target obesity, metabolic disorders, and various CNS conditions. The merger will see Protagenic Therapeutics' shareholders owning approximately 35% of the new entity, while Phytanix Bio's shareholders will own about 65%.
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