Biotech Values

[DewDiligence]

VLON reverse-merges with—(private)—GRI Bio:

https://www.globenewswire.com/news-release/2022/12/13/2573220/0/en/Vallon-Pharmaceuticals-and-GRI-Bio-Enter-into-Merger-Agreement-with-Goal-of-Advancing-Innovative-Pipeline-of-NKT-Cell-Regulators.html

Immediately following the closing of the Merger and the Financing, the equity holders of GRI Bio are expected to own approximately 83% of the outstanding equity of the combined company on a fully diluted basis, and the equity holders of Vallon are expected to own approximately 17%...

…GRI Bio’s NKT cell-based therapies are being developed for IPF and other fibrotic, inflammatory, and autoimmune diseases. NKT cells are innate-like T cells that share properties of both NK and T cells and are a functional link between the innate and adaptive immune responses. NKT I cells play a critical role in initiating and propagating the inflammatory response, injury and fibrosis observed in IPF and other fibrotic indications. GRI Bio’s lead program, GRI-0621, is an inhibitor of NKT I cells and is being developed as a novel oral therapeutic for IPF.