Virios Therapeutics

Virios Therapeutics and Wex Pharmaceuticals Merge to Form Dogwood Therapeutics, Advancing Novel Pain and Viral Therapies

- Virios Therapeutics and Wex Pharmaceuticals have merged in an all-stock transaction, creating Dogwood Therapeutics (NASDAQ: DWTX), focused on clinical development of Halneuron®, IMC-1, and IMC-2. - The merger includes a $19.5 million financing to advance Halneuron®, a non-opioid NaV1.7 inhibitor for chemotherapy-induced neuropathic pain, with Phase 2b interim results expected in 2H25. - Dogwood Therapeutics will grant existing VIRI stockholders a contingent value right (CVR) tied to potential milestone payments from partnering transactions for IMC-1 (fibromyalgia) and IMC-2 (Long-COVID). - A 25-for-1 reverse stock split was executed to enable the business combination and Nasdaq listing compliance, with Dogwood Therapeutics trading under the ticker symbol "DWTX" starting October 9, 2024.