Onconetix, Inc. (Nasdaq: ONCO) and Ocuvex Therapeutics, Inc. have announced the execution of a definitive merger agreement, which has been approved by the boards of both companies. Under the agreement, Onconetix will acquire all outstanding equity interests of Ocuvex. Ocuvex equity holders will receive newly-issued Onconetix common stock, representing 90% of the combined company's equity. Onconetix shareholders will hold the remaining 10%. Post-merger, the Onconetix board will comprise seven directors, with five designated by Ocuvex and two by Onconetix. The transaction is expected to close in the fourth quarter of this year, subject to customary approvals. Anthony W. Amato, Chairman and CEO of Ocuvex, emphasized the benefits of accessing public capital markets to advance new treatment options. Andrew J. Oakley, Chairman of Onconetix, highlighted the value brought by Ocuvex's ophthalmic assets.
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