Aethlon Medical to merge with North Immunology in all-stock deal

M&A · PartnershipCorporate Action
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Summary · why it matters

Aethlon Medical has agreed to an all-stock merger with North Immunology, sending its shares up 346% in premarket trading on Thursday. The transaction, approved by both boards, is expected to close in the first quarter of 2027. The merger and a concurrent private placement are expected to provide approximately $180M in gross proceeds and to position the combined company to advance development of NOR-101, a half-life extended IL-13 x IL-18 bispecific antibody being developed for atopic dermatitis and other immune-mediated diseases. Under the merger agreement, pre-merger Aethlon stockholders are expected to own about 4.75% of the combined company, while pre-merger North Immunology stockholders are expected to own about 95.25%, giving the combined company a pro forma equity value of roughly $346.5m inclusive of the private placement. Upon completion, the combined entity will operate as North Immunology, Inc. and trade on the Nasdaq Capital Market under the new ticker symbol NRTX.

Impact on stocks 1

Biotech & Genomic Medicine · 1 stocks
Aethlon Medical Inc
AEMD
▲ PositiveCapitalrelevance

Aethlon agreed to an all-stock merger with North Immunology plus a concurrent private placement expected to provide ~$180M in gross proceeds.

Theme Impact 1

Off-coverage companies 1

North ImmunologyPrivate▲ Positive
Capitalrelevance

North Immunology merges with Aethlon in an all-stock deal, with its holders owning ~95.25% of the combined company and advancing NOR-101.

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