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DanDrit Biotech acquires privately held HIV therapy developer

DanDrit Biotech USA Inc. completed its previously announced acquisition of Enochian Biopharma Inc.

Enochian is a privately held, Los Angeles-based developer of technology platforms for the treatment of HIV. Following the acquisition, Enochian becomes a wholly owned subsidiary of DanDrit.

Additionally, DanDrit completed a private placement of 1,677,130 common shares priced at $8 each to investors outside the U.S. Some DanDrit shareholders also bought 2,400,000 common shares through an exercise of warrants.

DanDrit specializes in developing immunotherapies for various types of cancer and is currently working on innovative treatments for HIV and colon cancer.