Enlivex Therapeutics reverse-merges into ORPN: https://globenewswire.com/news-release/2018/11/19/1654089/0/en/Bioblast-Pharma-Ltd-Announces-Entry-Into-Merger-Agreement-to-Acquire-Enlivex-Therapeutics-Ltd-to-Advance-Clinical-Stage-Immunotherapeutic-Drug-Pipeline-for-the-Treatment-of-Life-Th.html Ownership split of combined company anticipated to be approximately 96% Enlivex shareholders and 4% Bioblast shareholders before giving effect to any additional financing. The combined company will be renamed Enlivex Therapeutics Ltd., and its trading ticker will change accordingly. It's rare to see the public-shell company (ORPN in this instance) get only a 4% equity stake in the combined venture. Terms of the transaction include a contingent value right (CVR) to be distributed to Bioblast shareholders as of a record date prior to closing of the merger, entitling CVR holders to receive potential income from any licensing, sale or other transaction involving Bioblast’s existing Trehalose clinical program.Don’t count on the above CVR to be worth anything, LOL. Enlivex Therapeutics is a private, venture-funded clinical stage immunotherapy company, developing an autologous and allogeneic drug pipeline for immune system rebalancing, which is critical for the treatment of life-threatening immune and inflammatory conditions which involve the hyper-expression of cytokines (Cytokine Release Syndrome). Enlivex is developing a novel immunotherapy with a unique mechanism of action that targets clinical indications that are defined as “life-threatening with an unmet medical need,” such as preventing or treating complications associated with bone-marrow transplantations and sepsis, (the third-leading cause of mortality in the U.S. after cardiovascular and cancer diseases) and as a treatment for solid tumors via immune checkpoint reprogramming, which could increase the efficacy of CAR-T, TCR and other anti-cancer therapies.