NEW YORK, July 10, 2019 (GLOBE NEWSWIRE) -- Ohr Pharmaceutical, Inc. (Nasdaq: OHRP) today announced that all proposals related to its proposed merger with NeuBase Therapeutics, Inc. were approved by Ohr’s stockholders at a special meeting held on July 10, 2019. As previously announced on January 3, 2019, the proposed merger will create a public company under which the stockholders of NeuBase will become majority holders of the combined company.
Upon closing of the transaction, the combined company will change its name to “NeuBase Therapeutics, Inc.”, and the NASDAQ trading symbol will become “NBSE”. The executive team of NeuBase will serve as the executive team of the combined company, led by Dietrich A. Stephan, Ph.D. as Chief Executive Officer.
NeuBase is focused on advancing its proprietary peptide-nucleic acid (PNA) antisense oligonucleotide (PATrOL™) technology platform for the development of therapies to address severe and currently untreatable diseases caused by genetic mutations. The company’s lead programs are in Huntington’s disease and myotonic dystrophy.
The proposed merger remains subject to further customary closing conditions and regulatory approvals. Ohr and NeuBase expect the closing of the merger to occur during the week of July 15, 2019.
The final voting results for Ohr’s special meeting of stockholders will be filed with the Securities and Exchange Commission in a Form 8-K and will also be available at https://www.ohrpharmaceutical.com, after certification by the company’s inspector of elections.
About NeuBase Therapeutics
NeuBase Therapeutics, Inc. is developing the next generation of gene silencing therapies with its flexible, highly specific synthetic antisense oligonucleotides. The proprietary NeuBase peptide-nucleic acid (PNA) antisense oligonucleotide (PATrOL™) platform allows for the rapid development of targeted drugs, increasing the treatment opportunities for the hundreds of millions of people affected by rare genetic diseases, including those that can only be treated through accessing of secondary RNA structures. Using PATrOL technology, NeuBase aims to first tackle rare, genetic neurological disorders.
