The Crone Law Group, P.C. Acting as Advisor to TenX Keane Acquisition in Merger to Form Citius Oncology, Inc., (CTOR).

The Crone Law Group, P.C. Acting as Advisor to TenX Keane Acquisition in Merger to Form Citius Oncology, Inc., a Subsidiary of Citius Pharmaceuticals.

NEW YORK, NEW YORK, UNITED STATES, August 13, 2024 /EINPresswire.com/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products, today announced that it has completed the previously announced merger of its oncology subsidiary with TenX Keane Acquisition ("TenX") (Nasdaq: TENK), a publicly traded special purpose acquisition company. The combined company will operate as Citius Oncology, Inc. ("Citius Oncology") and began trading on the Nasdaq stock exchange under the ticker symbol CTOR, on August 13, 2024.

The Managing Partner for The Crone Law Group, P.C. (CLG), Mark Crone offered his congratulations to both parties on the pivotal merger “It’s a testament to the power of collaboration and dedication from all concerned. A special thank you to my incredible team for making this milestone a reality.”

Tammara Fort, M&A Practice Group Lead for CLG said “It is very gratifying to see this merger realized, knowing the opportunities it brings to both the legacy TenX shareholders and to Citius Oncology Inc. as it works to advance its initiatives.”

About the Merger
Pursuant to the agreement, TenX acquired Citius Pharma's wholly owned subsidiary via a merger, with the newly combined publicly traded company renamed Citius Oncology, Inc. As part of the transaction, all shares of Citius Pharma's wholly owned subsidiary were converted into the right to receive common stock of Citius Oncology. Citius Pharma holds approximately 90% of the newly public company. An additional 12.75 million existing options will be assumed by Citius Oncology.

The description of the transaction contained herein is only a summary and is qualified in its entirety by reference to the merger agreement, a copy of which has been filed by Citius Pharma in a Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission on October 24, 2023.

Advisors
The Crone Law Group P.C. is acting as legal advisor to TenX. Wyrick Robbins Yates & Ponton LLP is acting as legal advisor to Citius Pharma and Citius Oncology. Maxim Group LLC is acting as exclusive financial advisor to Citius Pharma and Newbridge Securities Corporation is acting as exclusive financial advisor to TenX.


About Citius Oncology, Inc.
Citius Oncology will serve as a platform to develop and commercialize novel targeted oncology therapies. In August 2024, its primary asset, LYMPHIR, was approved by the FDA for the treatment of adults with relapsed or refractory CTCL who had had at least one prior systemic therapy. Management estimates the initial market for LYMPHIR currently exceeds $400 million, is growing, and is underserved by existing therapies. Robust intellectual property protections that span orphan drug designation, complex technology, trade secrets and pending patents for immuno-oncology use as a combination therapy with checkpoint inhibitors would further support Citius Oncology's competitive positioning. Citius Oncology is a publicly traded subsidiary of Citius Pharmaceuticals. For more information, please visit www.citiusonc.com

About The Crone Law Group P.C.
The Crone Law Group, P.C. is focused on corporate securities, securities compliance, and international business and trade, with significant experience working with domestic and foreign corporate issuers. The firm is unique in its ability to handle the most complex securities, M&A, corporate finance matters, intellectual property, and immigration law issues while providing clients with close, personal, service—not often available at larger, less intimate firms. We represent a select clientele that includes domestic and foreign publicly traded corporations, emerging companies, and entrepreneurs in various industries.

To contact The Crone Law Group: info@cronelawgroup.com

Sandra Davidson
The Crone Law Group P.C.
+1 916-896-6091
email us here
Visit us on social media:
LinkedIn