BetterLife Pharma Inc. (CSE:BETR) (OTCQB:BETRF) (FRA:NPAT) revealed that a special meeting of the shareholders of Altum Pharmaceuticals Inc. has “overwhelming” voted to approve the planned merger with BetterLife.
At the meeting on July 29, 2020, the group noted that 91.3% of Altum shareholders voted in favour of the merger with the emerging biotechnology company which has proprietary interferon-based therapeutic technologies. BetterLife is now awaiting ratification of the merger by the Canadian Securities Exchange.
READ: BetterLife Pharma encouraged by results of UK biotech's trial of interferon inhalation treatment for coronavirus
In a statement, Robert Metcalfe, lead director of BetterLife, said, “We are very pleased with the results of the votes from the Altum shareholders and to receive more than 91% support in favor of the merger with BetterLife.
“We look forward to the completion of the merger and advancing the development of Altum’s therapeutic treatments.”
Altum’s therapeutic pipeline consists of 3 products, including AP-003, a patent-pending interferon a2b (IFNa2b) inhalation formulation. Recent studies in China and the UK have provided data that suggest the therapeutic efficacy of interferon-based treatments for coronavirus (COVID-19).
BetterLife stressed again that it is not making any express or implied claims that Altum's AP-003 or any other product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time. Furthemorer, the safety and efficacy of Altum's AP-003 are under investigation and market authorization has not yet been obtained.
The company also that it has finalized an outstanding finder fee claim from Green Stream Botanicals Corp. from September 2019.
BetterLife is engaged in the development and commercialization of therapeutic pharmaceuticals as well as drug delivery platform technologies.
Through its wholly owned subsidiary, BLife Therapeutics Inc., BetterLife is refining and developing drug candidates from a broad set of complementary Interferon-based technologies which have the potential to engage the immune system to fight virus infections, such as the coronavirus disease (COVID-19) and human papillomavirus (HPV), and/or to directly inhibit tumours to treat specific types of cancer.
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