Aditxt, Inc. (NASDAQ: ADTX) is proud to announce the signing of an asset purchase agreement with Cellvera, Ltd. that grants them a 50% stake in G Response Aid FZE, with the other 50% owned by global logistics leader Agility, Inc. (KW: AGLTY).
In addition to the $24.5 million in consideration, which includes the forgiveness of Aditxt’s $14.5 million loan to Cellvera, and $10 million in cash, Aditxt will also receive future royalties for seven years. This transaction also means that the Share Exchange Agreement previously entered between Cellvera Global Holdings, LLC and Aditxt, and any other related agreements, will be terminated. GRA holds an exclusive, worldwide license for Avigan® 200mg, excluding Japan, China and Russia.
The completion of this transaction is contingent upon a number of conditions, including approval by Aditxt’s board of directors, the financing of the purchase price, the granting of regulatory approvals for the transfer of shares, the resolution of all of Cellvera’s creditors, and the acquisition of rights to additional 3rd-party IP assets. There is no guarantee that all of these conditions will be met or that the transaction will come to fruition.
Aditxt is thrilled to announce the acquisition of Avigan, a promising antiviral medication that has the potential to revolutionize the treatment and prevention of infectious diseases. As a newly formed subsidiary, Adivir will focus on leveraging Avigan’s broad-spectrum capabilities to drive a paradigm shift in the global treatment of infectious diseases.
This acquisition bolsters Aditxt’s strategic revenue and growth and serves as a cornerstone in the drive towards more effective antivirals. We believe that Avigan can play a vital role in the treatment of a range of infectious diseases, and are excited to be part of this revolutionary venture.
GRA CEO Mitch Wilson expressed his enthusiasm for the new partnership with Aditxt, citing their expertise in evaluating, cultivating, and monetizing groundbreaking immune-health products as integral to GRA’s success in maximizing the potential of Avigan.
About Aditxt, Inc.
Aditxt, Inc. (NASDAQ: ADTX) is a global innovator that is revolutionizing the way we monitor and modulate the immune system. Our mission is to make promising innovations possible, together, with our diverse and growing ecosystem of research institutions, global industry partners and shareholders.
Our portfolio of innovations includes Adimune, Inc.™, for retraining the immune system; Adivir, Inc.™, for the identification, development and commercialization of new ways to treat infectious diseases; and Pearsanta, Inc.™, for personalized immune monitoring. With these innovative solutions, we aim to improve the lives of those suffering from autoimmune diseases, allergies, hereditary cancer, wounds and cardiomyopathy.
About Agility
Agility is a global powerhouse, setting the standard for supply chain services, infrastructure, and innovation. With over 45,000 employees across six continents, the company is leading the way in emerging markets and uses its expertise to fuel growth and scale businesses.
This includes Menzies Aviation – the world’s largest aviation services company – TriStar, the global fuel logistics business, Agility Logistics Parks – the market leader in logistics parks across the Middle East, South Asia, and Africa – and UPAC, a commercial real-estate company developing a mammoth $1.2 billion mega-mall in the UAE.
Agility also provides customs digitization services, remote-site infrastructure services, ecommerce-enablement and digital logistics. On top of this, Agility is proud to invest in supply chain innovation, sustainability, and resilience, and has a stake in an ever-growing portfolio of listed and non-listed companies looking to revolutionize their respective industries.
About Global Response Aid (GRA)
GRA, a Dubai-based company, has taken the initiative to tackle the public health challenges posed by the COVID-19 pandemic and other threats. By harnessing the power of cutting-edge pharmaceutical products and technology platforms, GRA is providing innovative, effective healthcare solutions to governments, hospitals, clinics, healthcare providers, life sciences companies, NGOs and public institutions. With their help, these entities can now better meet and manage the public health concerns that arise from the current crisis.