Apricus Biosciences Announces Merger With Seelos Therapeutics

(RTTNews) - Apricus Biosciences, Inc. (APRI) Monday announced a definitive merger agreement with Seelos Therapeutics, Inc. in an all-stock transaction. Seelos shareholders are expected to own approximately 86 percent of the merged company and current Apricus shareholders are expected to own approximately 14 percent of the merged company. The proposed merger is expected to close during the second half of 2018.

Upon merger, Seelos Therapeutics shall start trading on the Nasdaq Capital Market under the ticker symbol 'SEEL.' It will maintain its headquarters in New York.

The merged company will focus on the development and commercialization of central nervous system therapeutics. Seelos has been advancing five late-stage therapeutic candidate with near-term clinical and regulatory milestones.

Richard Pascoe, Chief Executive Officer (CEO) of Apricus said, the merger will provide an opportunity to create value from a diversified pipeline of late-stage clinical assets in areas of high unmet need.