Chardan Healthcare Acquisition Corp. Shareholders Approve Definitive Merger Agreement with BiomX Ltd.
Chardan Healthcare Acquisition Corp. (NYSE: CHAC, “CHAC”), a special purpose acquisition company sponsored by affiliates of Chardan Capital Markets LLC (“Chardan”) announced today that its shareholders have voted to approve CHAC’s previously announced business combination with BiomX Ltd. (“BiomX”), a microbiome company developing both natural and engineered phage therapies. More than 97% of the shares voted today at CHAC’s special meeting of stockholders were voted in favor of the proposed transaction with BiomX. CHAC’s board of directors had previously approved the business combination and recommended that its shareholders vote in favor. BiomX’s board of directors and stockholders had also previously approved the business combination.
The transaction is expected to close on October 28, 2019, subject to the satisfaction or waiver of certain closing conditions. The combined company will be renamed BiomX Inc. and its shares of common stock, units, and warrants are expected to trade on the NYSE American on October 29, 2019 under the symbols PHGE, PHGE.U, and PHGE.WS, respectively.
LNC Therapeutics chooses Luina Bio for the development and GMP manufacturing of its first live bio therapeutic product based on the gut microbiome
LNC Therapeutics, a French biotech company specializing in gut microbiome-based drug discovery have signed a manufacturing agreement with Luina Bio as the CDMO responsible for the development and manufacturing activities of a pharmaceutical development project aiming at harnessing the potential of Christensenella minuta (C.minuta) as a novel therapy to treating obesity and metabolic disorders. LNC Therapeutics is developing the first Live Biotherapeutic Product (LBP) based on C. minuta to clinical development.
Christensenella is a recently discovered family of gut bacteria. Considered a keystone taxon in the human gut microbiome, it represents a major opportunity in the fight against obesity, metabolic disorders and other high-impact diseases. Christensenella and microbiome modulation is an innovative approach with the potential to unlock a wide range of therapeutic applications.
LNC Therapeutics’ CEO, Dr Georges Rawadi, said “We chose to work with Luina Bio because of its expertise in the production of living organisms derived from the microbiome. They have a clear understanding of our needs and a strong responsiveness. Luina Bio is a key partner for LNC Therapeutics.”
The company intends to run its first in man clinical trial of Christensenella in 2020.
The requested GMP manufacturing services are currently underway at Luina Bio facility in Brisbane, Australia. Luina Bio is ideally suited to undertake the manufacture of microbial fermentation products as Luina Bio has worked on a number of product developments with experienced staffs, facilities and equipment to decrease technology transfer issues and achieve rapid start up for the project.
Luina Bio is a Finalist in this year’s Premier of Queensland’s Export Awards for the International Health category.