While financial experts may debate the merits and demerits of the initial public offering (IPO), it’s not the only way to take a company public.
With a drought of IPOs and waning investor confidence amid economic uncertainty, Florida-based cancer company Morphogenesis has opted for a less common route to market, merging with the Nasdaq-listed mitochondrial specialist CohBar (Nasdaq: CWBR).
The tie-up will bring new scientific and professional expertise into the group, and comes with a $15 million private fundraise on the part of CohBar, giving an anticipated cash runway through to the end of next year.
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