Hepion Pharmaceuticals Issues Letter to Shareholders Urging Support for Proposed Merger with Pharma Two B
02 Dezembro 2024 - 10:00AM
Hepion Pharmaceuticals, Inc. (Nasdaq: HEPA) (“Hepion” or the
“Company”), today sent an open letter to shareholders urging them
to vote for Hepion’s proposed merger with Pharma Two B Ltd.
(“Pharma Two B”) at the Company’s upcoming Special Meeting of
Stockholders (the “Special Meeting”) on December 12, 2024.
The full text of the letter is below:
December 2, 2024
Dear Shareholders of Hepion Pharmaceuticals,
We are writing to encourage your support for
Hepion’s proposed merger with Pharma Two B, which, we believe, best
positions the Company’s shareholders to maximize the value of their
investment. Since the Company’s formation over a decade ago, Hepion
has worked on developing new drugs aimed at addressing critical
diseases with the goal of improving the lives of a significant
patient population. Regrettably, these efforts have not yielded the
desired results and, after conducting a thorough review of
strategic alternatives, Hepion’s board of directors concluded a
merger with Pharma Two B is in the best interests of all
shareholders. We therefore urge you to VOTE
FOR this transformational transaction.
As outlined in Hepion’s definitive proxy
statement dated November 8, 2024 (see link: Hepion Proxy Statement
2024 Special Meeting), the continued clinical development of the
Company’s drug pipeline has become increasingly challenging due to
numerous risk factors- including Hepion’s inability to continue
funding such development and the investment community’s waning
appetite for follow-on financing given the deteriorating risk
profile. Quite simply, the Company lacked the financial resources
to advance its clinical trials and the capital markets reflected no
interest in funding further development of Hepion’s pipeline on
acceptable terms.
Fortunately, the Company’s review of strategic
alternatives yielded a compelling opportunity to merge with Pharma
Two B, a late-clinical stage biotechnology company developing an
innovative treatment for Parkinson’s Disease. Upon consummation of
the proposed merger, Hepion’s shareholders will be able to
participate in the potential upside of Pharma Two B’s promising
product candidate known as P2B001.
Furthermore, while Pharma Two B has indicated it
has no plans to advance the clinical development of Hepion’s legacy
drug pipeline, Hepion remains committed to monetizing its value for
the benefit of all shareholders. Although its efforts to date have
not yielded any formal indications of interest, any such
monetization could potentially provide further upside beyond Pharma
Two B’s compelling prospects. Of course, there can be no guaranty
of the magnitude and timing of any potential sale, if at all.
In the event Hepion’s proposed merger with
Pharma Two B does not receive the required shareholder support, the
Company faces potentially dire consequences due to its limited
financial resources. A stand-alone Hepion would be unable to fund
the continued development of its legacy drug pipeline and would
likely face delisting of its common stock from Nasdaq and potential
bankruptcy. Any adjournment to solicit additional shareholder
support could erode precious financial resources.
Clearly, there is a better path forward for
Hepion’s shareholders. Pharma Two B presents an opportunity to
share in the potential upside of its innovative drug candidate to
treat Parkinson’s Disease. P2B001’s development is already more
advanced than any candidates in Hepion’s legacy pipeline and the
post-merger company is expected to be well-funded to advance
continued clinical trials with filing of a New Drug Application
with the FDA on the horizon.
We therefore strongly urge you to VOTE
FOR Hepion’s proposed merger with Pharma Two B. Please
vote today to approve this important transaction. EVERY
VOTE COUNTS! No matter how many shares you may own, the outcome of
the special meeting may have a material impact on the value of your
investment.
If you have any questions regarding the
Special Meeting or need assistance voting, please contact Hepion’s
proxy solicitation firm Campaign Management, LLC toll-free at
1-855-422-1042 or via email at
info@campaign-mgmt.com If you have already voted
for Hepion’s proposed merger with Pharma Two B, thank you for your
support. If you have previously cast your vote against the merger,
you can still change your vote at any time prior to the Special
Meeting as only your latest dated vote will count.
Sincerely,
Hepion Pharmaceuticals, Inc.
Contacts
Investors:Michael FeinCampaign Management(212)
632-8422michael.fein@campaign-mgmt.com
Hepion Pharmaceuticals (NASDAQ:HEPA)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Hepion Pharmaceuticals (NASDAQ:HEPA)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024