Eloxx Pharma Acquires Zikani Therapeutics

(RTTNews) - Eloxx Pharmaceuticals, Inc. (ELOX) has acquired Zikani Therapeutics, Inc. in an all-stock deal. Stockholders of Zikani received approximately 7.6 million Eloxx common shares and own approximately 16 percent of the combined company.

The deal maximizes potential for ELX-02 for Cystic Fibrosis which is in phase 2 trials in Cystic Fibrosis patients affected by nonsense mutations in the cystic fibrosis transmembrane conductance regulator gene.

In connection with the acquisition, Silvia Noiman, and Martijn Kleijwegt have stepped down from the Eloxx Board. Alan Walts, and Raj Parekh, both Zikani directors, were appointed to fulfill the vacancies.