Wired News – TapImmune to Acquire T-Cell Therapy Developer – Marker Therapeutics, Inc.

Stock Monitor: Celldex Therapeutics Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 17, 2018 / If you want access to our free research report on TapImmune, Inc. (NASDAQ: TPIV), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TPIV as the Company’s latest news hit the wire. On May 15, 2018, the Company announced that it has inked a deal to acquire Marker Therapeutics, Inc., a privately-held clinical-stage developer of a transformative, non-genetically engineered, multi-antigen T cell therapy platform. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, TapImmune most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Merger Details

The transaction will be a merger-of-equals under which the stockholders of TapImmune and Marker will each own 50% of the combined company, prior to any issuances of additional shares in a contemplated financing.

Post-merger, TapImmune CEO, Peter Hoang, will be President and CEO of the combined company. Marker CEO, John Wilson, and Co-founder, Juan Vera, M.D., will join the combined company’s Board of Directors.

The Board of Directors of the combined company will consist of eight members, three of whom will be designated by TapImmune, and three more will be designated by Marker, and the remaining two will be designated by the investor syndicate.

Marker Co-Founder Ann Leen, Ph.D. will be appointed to the new position of Chief Scientific Officer. Michael Loiacono will continue to serve as CFO and Richard Kenney, M.D. will continue as Acting Chief Medical Officer.

In conjunction with the transaction, TapImmune intends to finalize a strategic alliance with Baylor College of Medicine which will include sponsored research, manufacturing support, and advancing early stage clinical trials at the institution.

The transaction has been unanimously approved by the Boards of Directors of both companies. The merger, expected to close in H2 2018, is subject to completion of the concurrent financing and the approval of the stockholders of each company as well as other customary conditions.

Financial Details

TapImmune is in discussions with a syndicate of leading healthcare-focused institutional investors with respect to a potential financing in conjunction with the merger that will be expected to fund the combined company into 2020. The Company has inked agreements with certain institutional stockholder and warrant holders that will provide the Company with approximately $5.1 million in equity financing. TapImmune’s largest stockholder, Eastern Capital Limited, has signed a Common Stock Purchase Agreement with the Company pursuant to which it will purchase 1.3 million shares of common stock at a price per share of $2.40 providing gross proceeds of around $3.1 million. Other selected institutional holders of outstanding warrants have signed warrant amendment agreements with TapImmune to exercise their warrants at an exercise price of $2.50 per share. Upon closing of the warrant amendment agreements, participating institutional holders will exercise around 783,000 warrants providing aggregate proceeds to the Company of approximately $2 million.

Additionally, John Wilson has provided a written commitment for additional financing to the Company of up to $1.0 million.

Merger Adds to TapImmune’s Product Pipeline a Synergistic Portfolio of Highly-Differentiated T-Cell Therapies

Peter Hoang mentioned that the merger adds to TapImmune’s product pipeline a synergistic portfolio of highly-differentiated T cell therapies that has demonstrated potentially groundbreaking results in early clinical trials in lymphoma, acute myeloid leukemia (AML), and multiple myeloma. According to him, with this merger, the Company has the opportunity to significantly disrupt the CAR-T and TCR field.

Peter added that compared to current gene-modified T cell therapies such as CAR-T and TCR, the therapies TapImmune is acquiring in this transaction are highly efficacious and extremely durable, without the need for lymphodepletion before infusion; non-gene-modified; significantly less toxic than CAR-T; multi-antigen specific, and capable of driving an endogenous immune response.

About Marker Therapeutics, Inc.

Marker Therapeutics, Inc. is a clinical stage immuno-oncology company focused on developing adoptive non-gene modified T cell therapies for the treatment of hematologic malignancies. Marker’s MultiTAA technology selectively expands non-engineered T cells, enhancing them with the ability to kill tumor cells by targeting multiple tumor-associated antigens.

About TapImmune, Inc.

Founded in 2007 and headquartered in Jacksonville, Florida, TapImmune, Inc., a clinical-stage immuno-oncology company developing immunotherapies for a variety of cancers designed to target both tumors and metastatic disease. The Company’s next-generation technology has been engineered to overcome the deficiencies of earlier cancer vaccine approaches.

Stock Performance Snapshot

May 16, 2018 – At Wednesday’s closing bell, TapImmune’s stock climbed 7.73%, ending the trading session at $3.26.

Volume traded for the day: 153.21 thousand shares, which was above the 3-month average volume of 42.26 thousand shares.

Stock performance in the previous six-month period – up 20.74%

After yesterday’s close, TapImmune’s market cap was at $35.89 million.

The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 0.6% at the end of the session.

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