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Investing.com -- Impact BioMedical Inc. (NYSE American:IBO) stock soared 385% following the announcement of a strategic merger with Hong Kong-based pharmaceutical company Dr Ashleys Limited.
The companies signed a merger and share exchange agreement on June 21, 2025, that will result in a reverse merger creating a combined entity to be traded on the NYSE American under the name "Dr Ashleys Limited," according to a joint statement from the firms.
Under the terms of the agreement, Impact BioMedical will become a wholly-owned subsidiary of the newly formed public company, which will be operated by Dr Ashleys’ management team. The transaction has received unanimous approval from both companies’ boards of directors, though it remains subject to Impact BioMedical shareholder approval and regulatory clearances.
Dr. Kanans Visvanats, Director of Dr Ashleys Limited, described the merger as "a significant milestone" that would accelerate the development of new therapies by integrating Impact BioMedical’s intellectual property portfolio into Dr Ashleys’ research and development efforts.
Frank D. Heuszel, CEO of Impact BioMedical, expressed enthusiasm about the deal, noting that Dr Ashleys’ "global reach and financial strength will provide the resources and infrastructure needed to bring our innovations to market."
The transaction represents a strategic move highlighting the importance of collaboration in the biomedical industry, with Dr Ashleys’ global presence and financial capabilities potentially enhancing the market prospects for Impact BioMedical’s patents.
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