Vincerx Pharma merging with Oqory, job cuts and leadership changes

From Nasdaq: 2024-12-27 21:46:22

Vincerx Pharma Inc. has agreed to merge with Oqory Inc., a clinical-stage company developing ADCs for cancer treatment. After the merger, Oqory equity holders will own 95% of the combined entity, with Vincerx equity holders owning 5%. The deal includes a minimum equity value of $13.66 million for Vincerx stockholders and a $20 million offering. Oqory investors will provide interim financing of $1.5 million. The merger is subject to closing conditions and Nasdaq listing. Vincerx is implementing cost-control measures and a workforce reduction, with leadership changes including Ahmed Hamdy stepping down as CEO.



Read more at Nasdaq: Vincerx Pharma To Merge With Oqory; Cuts Jobs