Immune Therapeutics Inc. said it will acquire privately held Aletheia Therapeutics Corp., which develops cancer therapies, in an all-stock deal.
Orlando, Fla.-based Immune Therapeutics expects to complete the transaction in the first quarter of 2020, subject to completion of a definitive agreement, the employment of the Aletheia management team to Immune management team and the assignment of all intellectual property to Immune.
Selected directors of Aletheia will join the board of the combined company as part of the acquisition, Immune Therapeutics noted in its Dec. 16 press release.
Additionally, Aletheia has agreed to sell an investor group securities for $25 million that will be funded before the end of the year.
Financial details of the transaction were not disclosed.
Immune Therapeutics develops immunotherapies for autoimmune and inflammatory diseases, cancer, HIV/AIDS and animal diseases.