Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

InvestorNewsBreaks – QSAM Biosciences Inc. (QSAM) Signs Definitive Agreement, Plan of Merger with Telix Pharmaceuticals

QSAM Biosciences (OTCQB: QSAM), a clinical-stage biotechnology company developing next-generation therapeutic radiopharmaceuticals, including Samarium-153-DOTMP (CycloSam), for the treatment of bone cancer and other diseases and conditions, has signed a definitive agreement and plan of merger providing for the acquisition of the company by Telix Pharmaceuticals Limited (ASX: TLX). According to the announcement, QSAM stockholders will receive $33.1 million in Telix ordinary shares or cash, less an adjustment amount equal to QSAM’s indebtedness and payables as of the merger closing, along with contingent value rights (“CVRs”) to receive future payments of up to $90 million upon the achievement of four clinical and commercial milestones within 10 years of closing. The agreement also noted that before the merger is closed, QSAM will effect a reverse stock split of its common stock in a ratio between 1:1000 and 1:2000.

Telix is a biopharmaceutical company focused on the development and commercialization of diagnostic and therapeutic radiopharmaceuticals and associated medical devices. “The signing of our merger agreement with Telix marks a major milestone for QSAM and our shareholders,” said QSAM Biosciences executive chair and cofounder Dr. C. Richard Piazza in the press release. “We are thrilled to advance this transaction to signing and expect to complete the transaction in the first half of 2024, subject to the timing of our information statement and the satisfaction of customary closing conditions. We believe strongly that Telix is the right partner to advance Samarium-153-DOTMP through clinical trials and give this important technology the best chance to improve the lives of patients suffering from bone cancer. We are equally excited for our shareholders, as we believe this is a great outcome for their investments.”

To view the full press release, visit https://ibn.fm/QDrQt

About QSAM Biosciences Inc.

QSAM Biosciences is developing next-generation nuclear medicines for the treatment of cancer and other diseases. QSAM’s initial technology, Sm-DOTMP, is a clinical-stage, bone-targeting radiopharmaceutical originally developed by IsoTherapeutics Group LLC and now owned by IGL Pharma Inc. For more information about the company, please visit www.QSAMBio.com.

NOTE TO INVESTORS: The latest news and updates relating to QSAM are available in the company’s newsroom at http://ibn.fm/QSAM  

About InvestorWire

InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer

InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com

InvestorWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Sunnyvale.com & California Media Partners, LLC. All rights reserved.