Chemomab Ltd. NASDAQ CMMB at https://www.webull.com/quote/nasdaq-cmmb works as a clinical-stage biopharmaceutical company. Adi Mor founded the company on September 22, 2011, and its headquarter in Tel Aviv, Isreal. The company’s center of attention is the development and discovery of innovative therapeutics for fibrosis-linked diseases with partial need. Chemomab Therapeutics set out to serve people throughout the world.
Chemomab is making great steps with its novel anti-CCL24 proprietary platform. It in turn hinders the main function of the soluble chemokine CCL24 as a regulator of utmost inflammatory and fibrotic pathways in multiple fibrosis related-disorders. It is actively advancing in CM-101 into phase 2 studies to treat patients suffering from Primary Sclerosing Cholangitis (PSC) also in later years they also plan to phase 2 trial for Systemic Sclerosis (SSc). Both work on the unmet need of patients with life-threatening inflammatory disease of the skin, lungs in SSc, and liver in PSC. They also continue to research clinical development with a primary focus on orphan disease.
On 16 March, Chemomab Ltd. announced its complete merger with Anchiano Therapeutics Ltd. Due to the merger of the company; it changes its name to Chemomab Therapeutics Ltd. and will continue to trade on NASDAQ Capital Market under the symbol “CMMB”. It starts on March 17, 2021.
Concerning the merger, Chemomab will effect a 4:1 reverse split of its ordinary shares and increase the number of ordinary shares per ADS, causes ADS to have 20 ordinary shares, post reverse split. Due to the merger, Chemomb will own approximately 90% of its merged company and ADS will own 10% of the combined share.
Chemomab Ltd. is also advancing CM- 101 into a Phase 2a clinical trial to test CM-101 subcutaneous formulation and its anti-fibrotic effects on patient diagnosis with non-alcoholic steatohepatitis. In 2021 clinical readout is expected to be out. However, Chemomab Ltd. also declared that it has set foot in a bond agreement with Kestrel Therapeutics Inc. under which it will sell Anchiano’s preclinical RAS program to Kestrel for a whopping amount of $ 1 million.
On 29 March 2021, they have just announced the appointment of Dr. Alan Moses, Dr. Claude Nicaise, Mr. Joel Marlyles, and Mr. Neil Cohen to Chemomab’s Board of Directors.
Chemomab secures its forgoing publicized private investment in public equity (PIPE) and received gross proceeds of $45.5 million. Before investing, you can check other stocks like nasdaq mvis at https://www.webull.com/quote/nasdaq-mvis.
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