Evofem CEO Saundra Pelletier will join Aditxt Co-founder and CEO Amro Albanna to discuss status and future plans
MOUNTAIN VIEW, Calif., March 17, 2025--(BUSINESS WIRE)--Aditxt, Inc. (NASDAQ: ADTX) ("Aditxt" or the "Company"), an innovation platform dedicated to discovering, developing, and deploying promising health innovations, today provided a corporate update outlining recent achievements and strategic milestones across its subsidiaries and strategic acquisition initiatives. In addition, the Company will be launching Aditxt Weekly Updates, starting Friday March 21, 2025, and continuing throughout the second quarter of 2025.
Advancing Toward Key Commercial Milestones
As Aditxt continues executing its strategic roadmap, the Company remains focused on advancing its subsidiaries toward key commercial milestones while progressing with strategic acquisitions. Below are the latest updates:
Subsidiaries
Adimune™
Adimune Inc.’s ("Adimune™") mission is to address the root causes of autoimmune diseases. By harnessing the body’s natural ability to restore and maintain immune tolerance, Adimune™ strives to deliver innovative solutions that improve lives without the risks of immunosuppression.
Recent Progress
Adimune™ is making key advances toward clinical trials with the shipment of the drug substances for final formulation of its drug product candidate, ADI-100. Current initiatives include:
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Regulatory Preparation:
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Preparation of an IND application for the FDA for Stiff Person Syndrome (SPS) in partnership with the Mayo Clinic
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Preparation of a Clinical Trial Application for the German regulatory authorities for Type I Diabetes (T1D) and Psoriasis
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Planned Clinical Trials:
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Type 1 Diabetes and Psoriasis in Germany
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Stiff Person Syndrome in the U.S., in collaboration with the Mayo Clinic
Pearsanta™
Pearsanta, Inc. ("Pearsanta™"), Aditxt’s majority owned precision diagnostics and personalized medicine subsidiary, continues to advance toward its commercial launch, expected in the second half of 2025, starting with blood-based tests for Prostate Cancer and Endometriosis. Key updates include:
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Validation Studies: Advancing in preparation for commercial launch, regulatory submissions, and market entry.
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IPO Progress: Pearsanta has engaged Dominari Securities LLC as lead underwriter for its planned initial public offering (IPO), with proceeds intended to support its commercialization efforts, and the expansion of its Mitomic® Technology platform for early cancer detection.
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Clinical Validation and Funding: Pearsanta™ continues advancing its research pipeline, including a planned randomized controlled study evaluating the Mitomic Prostate Test.
Adivue™
Following the successful completion of the Brain Scientific asset acquisition, Aditxt plans to initiate commercialization efforts through its subsidiary Adivue, Inc. ("Adivue™") with focus on the neurological monitoring. Adivue™ will be working toward:
Strategic Acquisitions in Progress
Appili Therapeutics
Aditxt and Appili Therapeutics, Inc. ("Appili"), have signed an extension through the end of March 2025 and have completed the $250,000 required payments. Additionally, the Company continues to evaluate potential strategic opportunities with Appili and will provide further updates as discussions progress.
Evofem Biosciences
Aditxt and Evofem Biosciences, Inc. ("Evofem") continue to collaborate to identify the best strategic path forward for Evofem to integrate into Aditxt’s business acceleration platform as part of the Company’s expansion strategy. Recent engagements include:
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Ongoing discussions to determine the most viable and efficient approach for Evofem’s transition.
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Evofem CEO Saundra Pelletier will join Aditxt Co-founder and CEO Amro Albanna for the first Aditxt Weekly Update on March 21, 2025, at 11:30 AM ET to provide further insight into current status and the companies’ strategic directions. Investors are encouraged to register in advance via https://us06web.zoom.us/webinar/register/WN_MzfBi7qZQqCRBrRsFBurZw or through Evofem’s investor portal.
Looking Ahead
Aditxt is dedicated to accelerating and commercializing promising health innovations through its multi-subsidiary structure, which spans immune health, precision medicine, neurological monitoring, public health, and women’s health.
Despite challenging market conditions, Aditxt remains focused on achieving commercial milestones and maintaining Nasdaq compliance, which recently necessitated a reverse stock split. While this was a difficult but necessary decision, it was determined to be necessary for Aditxt to continue to move forward on its business goals.
Recognizing the importance of transparency and open communication, Aditxt is launching the Aditxt Weekly Update series, starting March 21, 2025. The first session will feature a conversation between Amro Albanna and Saundra Pelletier, providing insights into their corporate relationship and future vision.
"Our focus remains on seeking to advance our subsidiaries to key regulatory and commercial milestones while strategically executing on our acquisition initiatives," said Amro Albanna, Co-Founder, Chairman & CEO of Aditxt. "Each of our business units is making meaningful progress, and we look forward to keeping our shareholders informed as we execute on our plan."
About Aditxt
Aditxt, Inc.® is a social innovation platform dedicated to accelerating promising health innovations. Aditxt’s ecosystem of research institutions, industry partners, and shareholders collaboratively drives their mission to "Make Promising Innovations Possible Together." The innovation platform is the cornerstone of Aditxt’s strategy, where multiple disciplines drive disruptive growth and address significant societal challenges. Aditxt operates a unique model that democratizes innovation, ensures every stakeholder’s voice is heard and valued, and empowers collective progress.
Aditxt currently operates two programs focused on immune health and precision health. The Company plans to introduce two additional programs dedicated to public health and women’s health. For these, Aditxt has entered into an Arrangement Agreement with Appili Therapeutics, Inc. ("Appili") (TSX: APLI; OTCPink: APLIF), which focuses on infectious diseases, and a Merger Agreement with Evofem Biosciences, Inc. ("Evofem") (OTCQB: EVFM). Each program will be designed to function autonomously while collectively advancing Aditxt’s mission of discovering, developing, and deploying innovative health solutions to tackle some of the most urgent health challenges. The closing of each of the transactions with Appili and Evofem is subject to several conditions, including but not limited to approval of the transactions by the respective target shareholders and Aditxt raising sufficient capital to fund its obligations at closing. These obligations include cash payments of approximately $17 million for Appili and $17 million for Evofem, which includes approximately $15.2 million required to satisfy Evofem's senior secured noteholder; should Aditxt fail to secure these funds, Evofem's senior secured noteholder is expected to seek to prevent the closing of the merger with Evofem. On December 23, 2024, Evofem announced the cancellation of its special stockholders’ meeting and the withdrawal of the merger proposal with Aditxt from consideration by the stockholders. No assurance can be provided that all of the conditions to closing will be obtained or satisfied or that either of the transactions will ultimately close.
For more information, www.aditxt.com.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements include statements regarding the Company’s intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ongoing and planned product and business development; the Company’s ability to finance and execute its strategic M&A initiatives; the Company’s ability to obtain the necessary funding and partner to commence clinical trials; the Company’s intellectual property position; the Company’s ability to develop commercial functions; expectations regarding product launch and revenue; the Company’s results of operations, cash needs, spending, financial condition, liquidity, prospects, growth, and strategies; the Company’s ability to raise additional capital; expected usage of the Company’s ELOC and ATM facilities; the industry in which the Company operates; and the trends that may affect the industry or the Company. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, as well as market and other conditions and those risks more fully discussed in the section titled "Risk Factors" in Aditxt’s most recent Annual Report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s other filings with the Securities and Exchange Commission. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Contacts
Corporate Communications
Jeff Ramson, PCG Advisory
T: 646-863-6893
