Squarex Pharma Signs Investment Term Sheet for Up to $75 million To Go Public
The money will be used to complete the Company’s Phase IIb study, subsequent Phase III study, and provide the runway to commercialization. Squarex’s drug SQX770 is unique in that a single topical application to the arm (not the lip or face) has been shown in clinical trials to prevent cold sore outbreaks (oral herpes) for three months in people with frequent outbreaks. It acts by improving the body’s natural immune response to the virus.
Hugh McTavish, Squarex’s founder and CEO commented, “What a great day for Squarex and our investors! We are please to have the endorsement of such a high prestige investor. It’s a real affirmation of years of hard work, and we are only getting started.” Recently, Squarex engaged auditors Baker Tilly US LLP to undertake a PCAOB audit of the company in preparation for going public.
Squarex has elected to keep its regulation Crowdfunding investment campaign on the Wefunder platform open while the company searches for a suitable company to reverse into and while the investment process moves toward final documentation. With the understanding that forward looking statements cannot be guaranteed, Wefunder investors would be buying in at a 30% discount to the stated valuation in the currently signed term sheet.
About Squarex Pharma
Squarex is a late clinical-stage biopharmaceutical company focused on the development and the Company’s commercialization of therapeutic candidates to address large market opportunities. Squarex is initially focused on the prevention of recurrent cold sores (herpes labialis) and other infections caused by Herpes Simplex Virus 1 or Herpes Simplex Virus 2. The Company’s lead product candidate, SQX770, has successfully completed three clinical trials and shown significant efficacy in all three.
Squarex’s drug SQX770 is unique. A single topical application to the arm, (not the lip or face), has been shown in clinical trials to prevent cold sore outbreaks (oral herpes) in people with frequent outbreaks for 3 months.
Investment Website: https://Wefunder.com/squarexllc
For more information about Squarex and partnering opportunities for its Herpes Labialis preventative treatment, please contact:
Joseph Cunningham, CFO, Squarex Pharma
Tel 612 787-7281 jcunningham@squarex-pharma.com
Joseph Cunningham
Squarex Pharma
+1 612-787-7281
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Squarex announces going public with venture capital investment
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