Akers Biosciences Announces Shareholder Meeting to Vote on Business Combination with MyMD Pharmaceuticals
Akers Biosciences, Inc (Nasdaq: AKER), today announced that it has scheduled its general meeting of shareholders (the "Meeting”) to vote on the proposed business combination with MyMD Pharmaceuticals (“MyMD”). The meeting will be held on April 15, 2021 at 10:00 a.m., Eastern Time, and will be “virtual,” meaning that you can participate in the meeting online at www.virtualshareholdermeeting.com/AKER2021SM.
In connection with the Meeting, Akers’ board of directors has fixed the close of business on March 15, 2021 as the record date for the special meeting.
“We believe the strategic combination of Akers with MyMD has the potential to accelerate the commercialization of MyMD’s drug development platform, which has been built over the past seven years,” said Chris Schreiber, Chief Executive Officer of Akers Biosciences, “MYMD-1 is targeting the underlying causes of chronic autoimmune diseases as well as aging itself, and SUPERA-1R–a patent-protected synthetic derivative of cannabidiol (CBD)–targeting numerous key cannabinoid receptors to address pain, anxiety, sleep disorders, and seizures. We look forward to closing the proposed business combination as soon as possible following the Meeting and will update shareholders at that time.”
About MyMD Pharmaceuticals, Inc.
MyMD is a clinical-stage pharmaceutical company committed to extending healthy lifespan by focusing on developing two therapeutic platforms. MYMD-1 is a drug platform based on a clinical-stage small molecule that regulates the immunometabolic system to control TNF-α and other pro-inflammatory cytokines. MYMD-1 is being developed to treat autoimmune diseases, including those currently treated with non-selective TNF-α blocking drugs, and aging and longevity. SUPERA-1R is a drug platform based on a novel (patent pending) synthetic derivative of cannabidiol (CBD) that targets numerous key receptors including CB2 and opioid receptors and inhibits monoamine oxidase. SUPERA-1R is being developed to address the rapidly growing CBD market, that includes FDA approved drugs and CBD products not currently regulated as a drug. For more information, visit www.mymd.com.
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