Tottenham Acquisition I Ltd (TOTA)

[Liquid1974]

Clene Nanomedicine, Inc. To Go Public through Merger With Tottenham Acquisition I Limited

9/2/20, 7:11 AM
September 2, 2020 08:11 AM ET (BZ Newswire) -- News

Combined Company Expected to Trade on the NASDAQ Post-closing under a New Ticker

Clene is a clinical-stage biopharmaceutical company developing the first potential therapeutic nanocatalyst, CNM-Au8, for treatment of neurodegenerative diseases with a Phase 3 study underway in amyotrophic lateral sclerosis (ALS), and concurrent Phase 2 clinical programs ongoing for the neuroreparative treatment of multiple sclerosis, Parkinson's disease, and ALS.
Clene is presently launching two additional Phase 2 COVID-19 studies with a second nanotherapeutic asset, CNM-ZnAg, in Brazil and Russia.
Clene is valued at $542.5 million in the proposed merger. Assuming no shareholder redemption, the combined company will receive cash of $25 million from Tottenham's trust account.