Scancell And Neuphoria Therapeutics Announce Merger Agreement And Financing

India, July 23 -- Scancell Holdings plc (SCLP.L) and Neuphoria Therapeutics Inc. (NEUP) have agreed to an all-share merger, creating a combined company that will operate under the Scancell name and seek a Nasdaq listing under the symbol "SCLT".

Under the terms of the transaction, existing Scancell shareholders will own 85.5% of the merged entity, while Neuphoria shareholders will hold 14.5%. The merger is accompanied by financing commitments of up to $89 million through a mix of equity and debt. This includes $39.1 million from a private placement, $12 million from a UK placing, $3 million from a retail offer, and up to $25 million in debt financing from funds managed by BlackRock.

The combined company will use the proceeds to advance Sca...