Animation: CD38-GEAR-NK are modified NK cells that can avoid being ablated by therapies designed to target the CD38 antigen, thus enabling the combination of passive immunity with innate active immunity to more efficiently target and eradicate CD38+ malignancies. Source: Coeptis Therapeutics
Coeptis Therapeutics ( Chart COEP - $1.69 0.09 (5.056%) ) announced Tuesday that it has agreed to merge with special purpose acquisition company Bull Horn Holdings ( Chart BHSE - $0. 0. (0%) ).
Holders of outstanding Coeptis shares will receive equity in Bull Horn valued at $175 million.
The deal is expected to close in Q3 2022. The combined entity is expected to list on Nasdaq under the ticker symbol "COEP." Coeptis is currently traded on OTC Markets under that symbol.
Coeptis is developing cell therapy platforms for cancer based on a cell therapy technology called CD38-GEAR-NK. The company also is developing an in vitro diagnostic targeting CD38-related cancers.
CD38-GEAR-NK is a natural killer (NK) cell-based therapeutic candidate engineered to enable combination therapy with anti-CD38 monoclonal antibodies (mAbs).
CD38-Diagnostic is a pre-clinical in vitro screening tool to potentially pre-determine which cancer patients are most likely to benefit from targeted anti-CD38 mAb therapies, either as a monotherapy or in combination with CD38-GEAR-NK.
"Today's announcement is a key milestone for Coeptis as it gains access to the capital needed to advance our product portfolio highlighted by CD38-GEAR-NK and CD38-Diagnostic," said CEO David Mehalick. "The combination of CD38-GEAR-NK and CD38-Diagnostic has the potential to provide a more targeted administration of anti-CD38 mAbs in the treatment of cancers, including multiple myeloma, chronic lymphocytic leukemia, and acute myeloid leukemia."
Coeptis Therapeutics currently trades very thinly on the OTC Market, averaging less than 6,000 shares traded per day.
This merger with the SPAC provides a much-needed lifeline to Coeptis investors, as Bull Horn just makes its acquisition deadline. Bull Horn raised $75 million in its October 2020 IPO, with an 18-month window to consummate a transaction.
Bull Horn had initially sought a company in the sports and entertainment industries, but that focus clearly changed.
- For Coeptis, it now has an opportunity to continue to co-develop its CD38-GEAR-NK therapeutic and diagnostic with its partner, VyGen-Bio, a wholly-owned subsidiary of privately held Vycellix. VyGen-Bio’s platforms were discovered by scientists at Karolinska Institutet of Stockholm.
- For those investors with a high risk tolerance, we think Coeptis is worth a speculative look.
- There is a tremendous need for improved treatments for cancers that over-express the CD38 protein (CD38+). Coeptis is a very early stage company, but it now has the runway to prove that its platform can offer a viable solution for a range of cancer indications.
Source: Equities News