With rare reverse merger, Florida firm sidesteps into limelight

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.