BALTIMORE & THOROFARE, N.J.–(BUSINESS WIRE)–Akers Biosciences, Inc (Nasdaq: AKER), right now introduced that it has scheduled its normal assembly of shareholders (the “Assembly”) to vote on the proposed enterprise mixture with MyMD Pharmaceuticals (“MyMD”). The assembly will probably be held on April 15, 2021 at 10:00 a.m., Japanese Time, and will probably be “digital,” which means that you may take part within the assembly on-line at www.virtualshareholdermeeting.com/AKER2021SM.
In reference to the Assembly, Akers’ board of administrators has fastened the shut of enterprise on March 15, 2021 because the file date for the particular assembly.
“We imagine the strategic mixture of Akers with MyMD has the potential to speed up the commercialization of MyMD’s drug growth platform, which has been constructed over the previous seven years,” stated Chris Schreiber, Chief Govt Officer of Akers Biosciences, “MYMD-1 is focusing on the underlying causes of power autoimmune illnesses in addition to getting older itself, and SUPERA-1R–a patent-protected artificial by-product of cannabidiol (CBD)–focusing on quite a few key cannabinoid receptors to deal with ache, nervousness, sleep issues, and seizures. We look ahead to closing the proposed enterprise mixture as quickly as doable following the Assembly and can replace shareholders at the moment.”
About MyMD Prescribed drugs, Inc.
MyMD is a clinical-stage pharmaceutical firm dedicated to extending wholesome lifespan by specializing in growing two therapeutic platforms. MYMD-1 is a drug platform based mostly on a clinical-stage small molecule that regulates the immunometabolic system to manage TNF-α and different pro-inflammatory cytokines. MYMD-1 is being developed to deal with autoimmune illnesses, together with these presently handled with non-selective TNF-α blocking medication, and getting older and longevity. SUPERA-1R is a drug platform based mostly on a novel (patent pending) artificial by-product of cannabidiol (CBD) that targets quite a few key receptors together with CB2 and opioid receptors and inhibits monoamine oxidase. SUPERA-1R is being developed to deal with the quickly rising CBD market, that features FDA accepted medication and CBD merchandise not presently regulated as a drug. For extra data, go to www.mymd.com.
No Supply or Solicitation
This communication shall not represent a proposal to promote or the solicitation of a proposal to promote or the solicitation of a proposal to purchase any securities, nor shall there be any sale of securities in any jurisdiction during which such provide, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such jurisdiction. No public provide of securities shall be made besides by way of a prospectus assembly the necessities of Part 10 of the Securities Act of 1933, as amended.
Vital Further Info Can be Filed with the SEC
In reference to the proposed transaction between Akers and MyMD, Akers has filed with the SEC a registration assertion on Kind S-4 that features a preliminary joint proxy assertion of Akers and MyMD that additionally constitutes a prospectus of Akers and the definitive joint proxy assertion assertion/prospectus will probably be mailed to shareholders of Akers and MyMD. Akers and MyMD additionally plan to file different related paperwork with the SEC concerning the proposed transaction. AKERS URGES INVESTORS AND STOCKHOLDERS TO READ THESE MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AKERS, THE PROPOSED TRANSACTION AND RELATED MATTERS. Buyers and shareholders will be capable of acquire free copies of the proxy assertion, prospectus and different paperwork filed by Akers with the SEC (after they change into accessible) via the web site maintained by the SEC at www.sec.gov. As well as, traders and shareholders will be capable of acquire free copies of the proxy assertion, prospectus and different paperwork filed by Akers with the SEC by contacting Investor Relations by mail at Akers Biosciences, Inc., Attn: Investor Relations, 1185 Avenue of the Americas, third Flooring, New York, New York USA 10036. Buyers and stockholders are urged to learn the proxy assertion, prospectus and the opposite related supplies after they change into accessible earlier than making any voting or funding determination with respect to the proposed transaction.
Contributors within the Solicitation
Akers and MyMD, and every of their respective administrators and government officers and sure of their different members of administration and staff, could also be deemed to be contributors within the solicitation of proxies in reference to the proposed transaction. Details about Akers’ administrators and government officers is included in Akers’ Annual Report on Kind 10-Ok for the 12 months ended December 31, 2020, filed with the SEC on March 1, 2021,. Further data concerning these individuals and their pursuits within the transaction will probably be included within the proxy assertion regarding the transaction when it’s filed with the SEC. These paperwork will be obtained freed from cost from the sources indicated above.
Cautionary Assertion Relating to Ahead-Trying Statements
Sure statements contained on this communication concerning issues that aren’t historic details are forward-looking statements inside the which means of Part 21E of the Securities and Change Act of 1934, as amended, and the Personal Securities Litigation Reform Act of 1995, often known as the PSLRA. These embrace statements concerning administration’s intentions, plans, beliefs, expectations or forecasts for the long run, and, subsequently, you’re cautioned to not place undue reliance on them. No forward-looking assertion will be assured, and precise outcomes might differ materially from these projected. Akers and MyMD undertake no obligation to publicly replace any forward-looking assertion, whether or not because of new data, future occasions or in any other case, besides to the extent required by legislation. We use phrases resembling “anticipates,” “believes,” “plans,” “expects,” “tasks,” “future,” “intends,” “might,” “will,” “ought to,” “may,” “estimates,” “predicts,” “potential,” “proceed,” “steerage,” and related expressions to establish these forward-looking statements which might be supposed to be lined by the safe-harbor provisions of the PSLRA. Such forward-looking statements are based mostly on our expectations and contain dangers and uncertainties; consequently, precise outcomes might differ materially from these expressed or implied within the statements because of quite a lot of components, together with, however not restricted to, dangers regarding the completion of the merger, together with the necessity for stockholder approval and the satisfaction of closing circumstances; the money balances of the mixed firm following the closing of the merger; the power of Akers to stay listed on the Nasdaq Capital Market in reference to the merger; and anticipated merger-related money outlays, together with the timing and quantity of these outlays. Dangers and uncertainties associated to MyMD which will trigger precise outcomes to vary materially from these expressed or implied in any forward-looking assertion embrace, however aren’t restricted to: the timing of, and MyMD’s potential to, acquire and preserve regulatory approvals for scientific trials of MyMD’s pharmaceutical candidates, the timing and outcomes of MyMD’s deliberate scientific trials for its pharmaceutical candidates, the quantity of funds MyMD requires for its pharmaceutical candidates; elevated ranges of competitors; modifications in political, financial or regulatory circumstances usually and within the markets during which MyMD operates; MyMD’s potential to retain and appeal to senior administration and different key staff; MyMD’s potential to rapidly and successfully reply to new technological developments; MyMD’s potential to guard its commerce secrets and techniques or different proprietary rights, function with out infringing upon the proprietary rights of others and stop others from infringing on MyMD’s proprietary rights; and the impression of the continuing COVID-19 pandemic on MyMD’s outcomes of operations, marketing strategy and the worldwide financial system.
New components emerge on occasion and it isn’t doable for us to foretell all such components, nor can we assess the impression of every such issue on the enterprise or the extent to which any issue, or mixture of things, might trigger precise outcomes to vary materially from these contained in any forward-looking statements. These dangers, in addition to different dangers related to the mix, will probably be extra totally mentioned within the proxy assertion/prospectus that will probably be included within the registration assertion that will probably be filed with the SEC in reference to the proposed transaction. Further dangers and uncertainties are recognized and mentioned within the “Threat Elements” part of Akers’ Annual Report on Kind 10-Ok, Quarterly Reviews on Kind 10-Q and different paperwork filed on occasion with the SEC. Ahead-looking statements included on this launch are based mostly on data accessible to Akers and MyMD as of the date of this launch. Neither Akers nor MyMD undertakes any obligation to replace such forward- trying statements to mirror occasions or circumstances after the date of this launch.