Pure Biologics Signs Investment Deal to Avert Insolvency

Biotech firm Pure Biologics has signed an investment agreement with ACRX Investments Limited aimed at resolving its financial crisis and enabling continued operations. The deal centers around a public share offering of Series P1 shares, expected to fund the further development of the company’s R&D pipeline.

ACRX has committed to subscribing to 50 shares under its pre-emptive rights and submitting an additional subscription for 3,999,950 shares should other shareholders not exercise their…