We last mentioned OXIS International, Inc. (OTCMKTS:OXIS) here on Street Register when the company announced it had signed a binding letter-of-intent to acquire Georgetown Translational Pharmaceuticals, Inc. (GTP), a deal that will add new management and a class of close-to-market Central Nervous Systems (CNS) products that will add significant value to the Oxis business model.
We are including it once again today as updates on that very transaction and its potential benefits have been recently published by the company, and we always strive to keep our readers up to date.
Last week, OXIS International, Inc. (OTCMKTS:OXIS) provided additional detail about its agreement to acquire Georgetown Translational Pharmaceuticals Inc. (GTP) and how the deal will add value to Oxis. Further, Oxis International Inc. has initiated a name change to GT Biopharma Inc. as part of its acquisition and 14C filing.
OXIS will pay one-third of its outstanding shares, and hopes to complete the transaction by the end of next month. Among the listed benefits of the transaction, according to the company are:
- The acquisition of GTP’s leading candidate, Pain Brake, a pain-relief drug expected to be submitted to the FDA as a New Drug Application in 15 to 18 months.
- The acquisition of drug candidate GTP-004 for the treatment of myasthenia gravis, a rare muscular disease. The only approved drug for this disease carries significant GI side effects, limiting the tolerable dose. GTP-004 combines the existing drug with an approved treatment of GI disease, reducing side effects and allowing patients to tolerate a more effective dose.
- The acquisition of GTP-011, a treatment for motion sickness. This is a repurposed version of an existing drug. It was designed to reduce or eliminate side effects in some elderly patients, allowing them to treat motion sickness without side effects that resembled symptoms of Alzheimer’s Disease.
- A new management team at Oxis (soon to be GT Biopharma). GTP co-founder Dr. Kathleen Clarence-Smith, a respected and experienced leader in the pharmaceutical industry, will become CEO of the combined companies. Additionally, a Chief Medical Officer, who formerly served as CMO with Pfizer, will join Oxis under the deal.
In addition to everything the acquisition will bring to the table for OXIS, we also have to remember that the company also has been pursuing clinical trials for OXIS-4235, a P62-ZZ chemical inhibitor intended for use as a treatment for multiple myeloma. According to the American Cancer Society, more than 30,000 people are expected to be diagnosed with the disease this year and more than 12,000 are expected to die from it. The US Patent and Trademark office approved and issued Patent No. 9,580,382 for the drug and the company holds worldwide rights to profit off of its eventual commercialization. (Source: Accesswire)
Perhaps this recent confluence of announcements for the company is responsible for the recent run up the chart being made by OXIS stock, which has risen from a low of .011 in June, to nearly three cents this week. It’s certainly enough for us to determine that OXIS requires further observation and put it on our track list. We’ll follow the story, and you can do the same right here with us. Stay locked to Street Register for updates, and we’ll deliver important developments on OXIS as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in OXIS stock, short or long