9 Meters Biopharma, a Rare, Orphan and Unmet Needs GI-Focused Company, is Created with the Transformative Merger Between Innovate Biopharmaceuticals and RDD Pharma

Innovate Biopharmaceuticals, Inc. (Nasdaq:INNT), announced the completion of its previously announced merger with privately-held RDD Pharma, Ltd. Following the completion of the merger, Innovate is changing its name to 9 Meters Biopharma, Inc. (“9 Meters” or the “Company”) and will continue trading on NASDAQ with the ticker symbol NMTR, effective May 4, 2020. In addition, the Company announced the signing of approximately $22 million in new financing, led by Orbimed Advisors, LLC, and the signing of the previously announced merger with Naia Rare Diseases, a company developing a proprietary long acting GLP-1 for the treatment of Short Bowel Syndrome. The combined Company will be focused on developing urgently needed treatments for patients with rare, orphan diseases and unmet needs in GI. The combined Company will have two late-stage lead assets funded to their next key inflection points, which include the initiation of a Phase 2 trial in short bowel syndrome in 2H 2020 with top-line results expected in 2021, and the receipt of top-line results for an ongoing Phase 3 trial in celiac disease in 2021.

Read the full article: 9 Meters Biopharma, a Rare, Orphan and Unmet Needs GI-Focused Company, is Created with the Transformative Merger Between Innovate Biopharmaceuticals and RDD Pharma //

Source: https://9meters.com/press-releases/?id=8436

Scroll to Top