DanDrit Biotech obtains acquisition of Enochian Biopharma

DanDrit Biotech USA, Inc. asserted the completion of acquisition of Enochian Biopharma. DanDrit possesses a perpetual, fully paid up, royalty free, sublicensable, exclusive, license to new technology platforms for the treatment of HIV, including combinatory gene therapy methods.

DanDrit completed a private placement to investors in the United States and a private placement to investors outside of the United States for total of 1,677,130 shares of common stock at $8.00 per share, and certain of DanDrit’s existing shareholders exercised warrants to purchase a total of 2,400,000 shares of common stock. The stockholders of Enochian received 18,081,962 shares of DanDrit’s common stock, representing 50% of DanDrit’s common stock issued and outstanding, after giving effect to the private placements, the warrant exercises and the acquisition, and expenses related to the acquisition.

Eric Leire, MD, DanDrit’s Chief Executive Officer said “This acquisition will not only give DanDrit access to new technology, but also bring onboard a team of bright, value-driven, experienced and enthusiastic professionals who are committed to the success of our clinical development programs.”