Friday, 06 December 2019

85% shares voted to date to support merger of Flex Pharma with Salarius Pharma

17 June 2019 | News

Flex Pharma adjourned the special meeting until July 12, 2019 in order to provide shareholders with more time to complete proxies and vote their shares.

Flex Pharma has announced that approximately 85% of shares voted to date support the proposed merger with Salarius Pharmaceuticals, LLC, an epigenetic oncology company. However, in order to complete the merger, a quorum must be present at the special meeting (in person or by proxy) and a majority of outstanding shares must approve Proposal 2, which is described in Flex Pharma’s proxy statement/prospectus/information statement.

Flex Pharma adjourned the special meeting until July 12, 2019 in order to provide shareholders with more time to complete proxies and vote their shares.

Flex Pharma’s CEO William McVicar stated, “We are very pleased that the vast majority of shareholders who voted support the merger with Salarius, consistent with the recommendations of both leading, independent proxy advisory services ISS and Glass-Lewis.” Flex Pharma’s Board of Directors also unanimously recommends voting “FOR” all proposals in the proxy statement/prospectus/information statement as the best way to preserve future shareholder value.

Additional shares must be voted in order to complete the planned merger with Salarius Pharmaceuticals, LLC, a privately held clinical-stage oncology company targeting the epigenetic causes of cancers.

Salarius Pharmaceuticals is a clinical-stage oncology company targeting the epigenetic causes of cancers and is developing treatments for patients that need them the most. The company’s lead candidate, Seclidemstat, is currently in clinical development for treating Ewing sarcoma, for which it has Orphan Drug designation and Pediatric Rare Disease Designation by the U.S. Food and Drug Administration. Salarius believes that Seclidemstat is one of only two reversible inhibitors of the epigenetic modulator LSD1 currently in human trials, and that it could have potential for improved safety and efficacy compared to other LSD1-targeted therapies. Salarius is also developing Seclidemstat for a number of cancers with high unmet need and expects to commence additional clinical studies in 2019 targeting advanced solid tumors, including prostate, breast and ovarian cancers.

Flex Pharma, Inc. is a biotechnology company that was founded in 2014 by National Academy of Science members Rod MacKinnon, M.D. (2003 Nobel Laureate) and Bruce Bean, Ph.D., recognized leaders in the fields of ion channels and neurobiology, along with Christoph Westphal, M.D., Ph.D.

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