Singapore2023/10/5 /PRNewswire/ -- EUDA HealthHoldings Co., Ltd(“EUDA” or “Company”) (NASDAQ: EUDA) is a Singapore-based digital health platform dedicated to improving medical outcomes through personalized medicine, optimizing the patient experience, and making healthcare services more inclusive and convenient. The company announced today that it has been2023/10/4Signed a merger agreement with TheoreMRX Inc. (“TheoreMRX”)book.TheoreMRX is a privately held company headquartered in the United States that focuses on serving patients with cancer and women's health problems, and developing new treatments with safe drug use, low toxicity, and high potential for multiple drug use.
The two sides agreed to establish a 30-day exclusive period. The exclusive period can be extended for another 15 days with mutual agreement to allow the parties to conduct negotiations and due diligence necessary to reach a final agreement. According to the terms of the letter of intent,TheoreMRX will merge with one of EUDA's subsidiaries. The legal structure, equity, and name and brand of the merged entity will be determined by mutual agreement during the due diligence phase.
Dr. Weiwen Chen, founder and CEO of EUDA, said, “This merger is an exciting market opportunity for EUDA. Establishing a strategic partnership with such a biotech company with immediate growth and innovation potential will help us further strengthen our market position. We believe TheoreMRx has sufficient funding channels, the drug pipeline covers treatment areas where market demand is strong but not yet met, and is expected to usher in an inflection point in the near future. TheoreMRX's project portfolio has been pre-screened based on high revenue potential, seeking to reach key monetization points in the shortest time and at the lowest cost. By taking full advantage of the respective advantages of our two companies' platforms, I believe we can work together to advance the progress of major new biomedical treatment solutions in clinical trials and create great value for shareholders.”
The completion of this merger will depend on a number of conditions, including negotiation of a final agreement, regulatory approval, and fulfillment of customary closing conditions. The company cannot guarantee that the merger will be completed or that the terms of the merger will remain unchanged.
regardingTheoreMRX Inc.
TheoreMRX focuses on serving patients with cancer and women's health problems, developing new treatments with safe drug use, low toxicity, and high multi-use potential. TheoreMRX creates a product portfolio composed of a variety of novel drug candidates, lays out the broad and unmet medical needs in the medical market, and promotes drug marketing by establishing cooperation and licensing with global pharmaceutical companies. The company is headquartered in the United States and operates in New York City, New York State, and Montreal, Quebec.
TheoreMRX was founded to solve the two major problems faced by biotechnology investors: reducing clinical risk and shortening investment realization time. TheoreMRX's strategy maximizes returns by achieving an inflection point in investment value in the shortest time and at the lowest cost. Since the company was founded, TheoreMRX has created a clinical project portfolio with significant risk reduction in the fields of oncology and women's health, mainly covering the following two categories:
1. New indications for products approved by the US Food and Drug Administration (FDA) (i.e. limited clinical risk; shortened regulatory path); and
2. Low-risk projects with significant efficacy signals and almost no side effects (i.e. minimal clinical risk) were pre-selected, and these projects were only developed to the final stage of proof of concept (POC) II.
In addition to achieving significant success in developing new treatments in multiple indications, TheoreMRX's management team and strategic partners also have extensive experience in financing listed companies and private companies, covering not only early-stage venture financing and cross-round financing, but also capital market financing including post-listing private placement, initial public offerings, subsequent public offerings, and debt financing, with total financing exceeding US$1 billion.
EUDA Health Holdings Co., Ltd
EUDA Health Holdings Limited is a Singapore-based medical technology company that operates Southeast Asia's first digital healthcare ecosystem platform. It enhances medical outcomes through personalized medical services, improves patient experience, and makes healthcare services more inclusive and convenient. The company's own integrated artificial intelligence platform can quickly assess patients' medical history, conduct initial triage, use digital technology to match patients with clinicians, and recommend optimal treatment plans. EUDA Health's package provides patients with a full range of medical care, covering care and prevention, emergency care and emergency care, anamnesis, and post-treatment services.
Forward-looking statements
This press release may include “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could have a negative impact on our business, operating results, financial position, and stock prices. Factors that may cause actual results to differ from management's current expectations include our competitive position, the industry environment, potential growth opportunities, and the impact of regulations and events beyond our control, such as natural disasters, wars, or health pandemics. We hereby expressly state that, except as required by law, we have no obligation or commitment to publicly post updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any change in any events, conditions, or circumstances.
Contact information
Christensen
Roger Hu
roger.hu@christensencomms.com
+852 2232 3968