Rafael Holdings, Cyclo Therapeutics enter merger agreement
Written by Emily J. Thompson, Senior Investment Analyst
Merger Announcement: Rafael Holdings and Cyclo Therapeutics have agreed to merge, focusing on developing Trappsol Cyclo for Niemann-Pick Disease Type C1, with the merger expected to close in late 2024 pending shareholder approval.
Financial Details: Rafael Holdings will issue Class B common stock to Cyclo Therapeutics' shareholders at a valuation of $0.95 per share, while also funding Cyclo's operations through convertible notes until the merger closes.
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About RFL
Rafael Holdings, Inc. is a biotechnology company. The Company holds interests in clinical and early-stage pharmaceutical companies, including a 100% interest in Cyclo Therapeutics, LLC, a biotechnology company focusing on developing its lead clinical candidate, Trappsol Cyclo, which is being evaluated in clinical trials, including an ongoing Phase III trial for the potential treatment of Niemann-Pick Disease Type C1 (NPC1), a rare, fatal, and progressive genetic disorder. It also holds an interest in LipoMedix Pharmaceuticals Ltd., a clinical-stage pharmaceutical company; Barer Institute Inc., a wholly owned preclinical cancer metabolism research operation, and an interest in Cornerstone Pharmaceuticals, Inc., a cancer metabolism-based therapeutics company. It holds an interest in Rafael Medical Devices, LLC, an orthopedic-focused medical device company developing instruments to advance minimally invasive surgeries, and a majority interest in Day Three Labs, Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
