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Citius Oncology Unit, TenX Keane Merger Approved by Shareholders

The newly combined public company will continue to trade on the Nasdaq stock exchange and be known as Citius Oncology Inc.

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By: Charlie Sternberg

Associate Editor, Contract Pharma

Shareholders of TenX Keane Acquisition, a publicly traded special purpose acquisition company, have voted to approve the previously announced business combination with Citius Pharmaceutical’s oncology subsidiary.
 
The newly combined public company will continue to trade on the Nasdaq stock exchange and be renamed Citius Oncology Inc.
 
The transaction has been unanimously approved by the Board of Directors of both companies and Citius Pharma. Subject to certain contractual as well as customary closing conditions, the merger is expected to be completed in the coming weeks.
 
The transaction is expected to provide Citius Oncology with improved access to the public equity markets, support the commercialization of LYMPHIR, if approved, and position the company to explore additional targeted oncology opportunities.  
 
“We look forward to closing this transaction in the coming weeks and unlocking and growing the value of our oncology asset,” stated Leonard Mazur, Chairman and CEO of Citius Pharma.

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