Salarius Pharmaceuticals Announces Merger With Decoy Therapeutics To Advance Cancer

(RTTNews) - Salarius Pharmaceuticals, Inc. (SLRX), a clinical-stage biopharmaceutical company focused on developing cancer therapies, Monday announced a merger with Decoy Therapeutics, Inc., a privately held preclinical biopharmaceutical company specializing in next-generation peptide conjugate therapeutics.

Under the terms of a definitive agreement, Decoy Therapeutics will merge with a wholly owned subsidiary of Salarius, and the combined entity will be named Decoy Therapeutics.

The merger is expected to create multiple value-creating opportunities through Decoy's innovative pipeline, which leverages its IMP3ACT platform to design and manufacture peptide conjugates rapidly.

In addition to Decoy's promising pipeline, the merged company plans to integrate Salarius' oral small molecule protein degrader, SP-3164, into a targeted peptide-based drug candidate known as proteolysis-targeting chimeras (PROTACs). This development aims to enhance the therapeutic potential of protein degradation technology in treating diseases like cancer.

The two companies have also agreed that after the merger is finalized and shareholders approve the conversion of preferred stock, the new company's Board of Directors will include Rick Pierce and Barbara Hibner, along with three independent directors, two chosen by Decoy's Board and one by Salarius' Board.

After the merger closes and shareholders vote to convert the preferred shares into common stock, Decoy investors are expected to own around 86% of the merged company, while Salarius stockholders will own about 14%, not including any shares issued in future financing.

SLRX is currently trading at $4.05 up 160.26 percent or $2.50 on the Nasdaq.