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Theralink & Imac Holdings Sign Agreement to Merge
Theralink is developing a technology to predict which FDA-approved drugs could be effective in each solid tumor cancer.
May 24, 2023
1 Min Read
Image Credit: karomlopburi via iStock/Getty Images
A proposed merger between Theralink Technologies and Imac Holdings is giving the proteomics space a huge shot in the arm.
Both companies have entered into a definitive agreement and plan of merger, which would have Theralink merge with a newly-formed subsidiary of Imac in a stock-for-stock reverse merger transaction. The merger is expected to either close in late 3Q23 or early 4Q23.
If the deal is completed Theralink will be a subsidiary of Imac.
Golden, CO-based Theralink has developed a test that measures the abundance and activation of 32 clinically actionable biomarkers. The test reports which of the 32 biomarkers are highly expressed or activated and FDA-approved therapeutics that target them.
This test is a tool that broadens actionability and supports oncologists in selecting the most effective treatment plan for their cancer patients.
Theralink said it is actively working on a pan-tumor test for solid tumors across multiple tumor types such as ovarian, endometrial, head and neck, pancreatic, colorectal, lung, prostate, among others.
“It is anticipated that the potential merger and listing will allow the Company broader access to capital, which will be invested in our business to accelerate market access and reimbursement initiatives for our clinical patient testing, expand our product offering portfolio and research initiatives, and increase our laboratory throughput,” Mick Ruxin, CEO of Theralink, said in a release. “With our predictive, protein biomarker test, oncologists may have better insights into each individual cancer patient’s unique biology and to the targeted therapies that act upon each patient’s unique cancer.”
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