A merger deal between medical device companies will a result in a new Baltimore-based company with a ticker symbol appearing on the Nasdaq.
According to a statement issued by the companies this week, MyMD Pharmaceuticals is merging with Akers Biosciences, a publicly traded company based in West Deptford, New Jersey. Going forward, the combined company will be listed as MYMD on the NASDAQ exchange.
Over the last seven years, MyMD has been developing a pair of drug candidates that use immunotherapy, which involves treating a disease by activating the body’s immune system to fight it. One of the candidates is targeting autoimmune and age-related diseases. It has begun clinical trials on human patients that are necessary for any pharmaceutical seeking approval to market from the FDA, with a Phase 1 study completed and a second expected in the first quarter of next year.
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