It was reported yesterday that DanDrit Biotech USA, a biopharmaceutical company, has signed a contract to acquire Enochian Biopharma, a company developing proprietary technology in the field of HIV/AIDS.
The stockholders of Enochian will be entitled to receive as consideration 50% of the number of shares of DanDrit's common stock issued and outstanding upon the acquisition. The deal is subject to customary closing conditions and Enochian will execute a perpetual, sole and exclusive license with Weird Science LLC for intellectual property rights in its technology for the prevention, treatment and amelioration of HIV in humans.
DanDrit plans to change its name to Enochian ImmunoScience Inc and relocate to Los Angeles, California.
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