Parties
Company
Virios Therapeutics, Inc.
Company
Wex Pharmaceuticals
Company
CK Life Sciences Int’l.
On October 7, 2024, Virios Therapeutics, Inc. (NASDAQ: VIRI) announced its merger with Wex Pharmaceuticals, a subsidiary of CK Life Sciences Int’l., in a $105 million all-stock transaction (approximately 143 million CAD). The deal closed on October 9, 2024, forming Dogwood Therapeutics, Inc. (NASDAQ: DWTX), focused on developing therapies for chemotherapy-induced neuropathic pain, fibromyalgia, and Long-COVID.
The transaction included a $19.5 million financing (about 26.6 million CAD) from a CKLS affiliate, with $16.5 million (22.4 million CAD) funded at closing and $3 million (4.1 million CAD) in Q1 2025. A 25-for-1 reverse stock split was executed, and Dogwood began trading under the symbol "DWTX" on October 9.
Tungsten Advisors served as financial advisor to Virios, with Orrick, Herrington & Sutcliffe LLP providing legal counsel. Goodwin Procter LLP represented CKLS.
Deal Type
Merger & AcquisitionIndustry
HealthcareTransaction
$ 143,000,000Deal Status
ClosedClosing Date
09 October 2024