AzurRx Announces Acquisition Of First Wave Bio, And Creation Of First Wave BioPharma

(RTTNews) - AzurRx BioPharma, Inc. (AZRX) has agreed to acquire First Wave Bio, Inc. in a stock and cash deal valued at $229 million. AzurRx will change its corporate name to First Wave BioPharma Inc., and will trade common shares on Nasdaq under ticker symbol, FWBI.

First Wave Bio is a clinical-stage biotechnology company specializing in the development of gut-targeted, small molecule therapies for auto-immune inflammatory bowel diseases and other serious conditions.

AzurRx will wholly own all rights to First Wave Bio's formulations of niclosamide, a small molecule drug which features anti-viral and anti-inflammatory properties that are designed to address multiple gastrointestinal conditions.