- Auris Medical Holding (NASDAQ:EARS) jumps 10% premarket after acquiring privately held Trasir Therapeutics, based in Tampa, FL.
- The purchase price comprises 0.77M common shares of the acquiring Company, the assumption of certain selling shareholders’ cash outlays as well as a future share-based payment contingent on reaching a specific development milestone.
- The transaction is the starting point for a strategic repositioning under which the Company intends to focus on the development of RNA therapeutics while in the medium term aiming to spin off or divest its existing assets in neurotology, rhinology and allergology.
- Trasir’s innovative peptide-based OligoPhore platform is designed to enable extrahepatic delivery of oligonucleotides.
- To reflect the repositioning, the Board of Directors of EARS intends to call an extraordinary general meeting of shareholders to propose its corporate name change to Altamira Therapeutics.
- Upon approval, the Company’s shares will start trading under the new ticker symbol “CYTO” instead of “EARS”.