Vallon Pharmaceuticals Merges with GRI Bio on New Innovations
Dec 14, 2022 By MarketDepth
Vallon Pharmaceuticals (VLON:NYQ) and GRI BIO, Inc entered into a definitive agreement where Vallon will absorb GRI Bio in an all-stock transaction. The driver behind the merger is the companies have similar innovations in the space and can use each other’s research to further treatment for inflammatory, fibrotic and autoimmune diseases.
Vallon Pharmaceuticals is up 120% intraday but down 90% on the year. Many of the companies in the space have seen hard declines over the last year and Vallon wasn’t immune to the downward pressure.
“Following an extensive and thorough strategic review process, we believe merging with GRI Bio represents the best path forward for Vallon’s shareholders. GRI Bio provides an exciting opportunity for value creation by advancing a potentially deep pipeline leveraging its innovative NKT regulator technology. Our board and management believe the combined company will be well positioned with the potential to address shortcomings that exist with current therapeutic treatments targeting inflammation and fibrosis across a number of high-value indications.”David Baker, CEO of Vallon
GRI Bio’s breakthrough research has allowed them to change the way inflammatory disease is treated by targeting NKT immune cells earlier in the inflammatory chain.