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Aethlon Medical to merge with North Immunology in all-stock deal
Aethlon Medical has agreed to an all-stock merger with North Immunology, sending its shares up 346% in premarket trading on Thursday. The transaction, approved by both boards, is expected to close in the first quarter of 2027. The merger and a concurrent private placement are expected to provide approximately $180M in gross proceeds and to position the combined company to advance development of NOR-101, a half-life extended IL-13 x IL-18 bispecific antibody being developed for atopic dermatitis and other immune-mediated diseases. Under the merger agreement, pre-merger Aethlon stockholders are expected to own about 4.75% of the combined company, while pre-merger North Immunology stockholders are expected to own about 95.25%, giving the combined company a pro forma equity value of roughly $346.5m inclusive of the private placement. Upon completion, the combined entity will operate as North Immunology, Inc. and trade on the Nasdaq Capital Market under the new ticker symbol NRTX.
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AEMD · Capital · Positive Aethlon agreed to an all-stock merger with North Immunology plus a concurrent private placement expected to provide ~$180M in gross proceeds.
North Immunology · Capital · Positive North Immunology merges with Aethlon in an all-stock deal, with its holders owning ~95.25% of the combined company and advancing NOR-101.