FLAGSTAFF, Ariz., Sept. 12,
2023 /PRNewswire/ -- Moonshot is excited to announce
that its incubator client, Axolotl Biologix, based in its
NACET Flagstaff, Arizona campus,
has finalized a merger with Carmell Therapeutics (Nasdaq: CTCX).
This partnership signifies a monumental step in regenerative
medicine, notably in the sectors of active soft tissue repair,
aesthetics, and orthopedic indications.
As outlined in the Merger Agreement, Axolotl's shareholders will
receive an Initial Equity Value of $65
million, allocated as $8
million in cash and $57
million in CTCX stock upon closing. Additionally, they stand
to gain up to $75 million in
potential Milestone Equity Payments, which are structured as 12%
cash and 88% in CTCX stock, subject to the achievement of defined
revenue and business benchmarks.
"The merger between Carmell Therapeutics and Axolotl Biologix
exemplifies the type of innovation and growth that Moonshot is
designed to cultivate," stated Scott
Hathcock, President & CEO of Moonshot. "Axolotl has been
a standout client at our Flagstaff
campus. This merger with an industry giant like Carmell
Therapeutics is a significant development for the future of
regenerative medicine."
This merger brings together Axolotl Biologix, known for its
profitable foray into regenerative medicine, and Carmell
Therapeutics, a leader in leveraging the body's innate healing
capabilities. The combined force is poised to become a market
leader, marrying Carmell's scientific prowess with Axolotl's
practical innovations.
"This transformative merger represents a milestone not just for
both participating companies but also underscores the value of our
relationship with Moonshot at NACET," said founder, Dr.
Robert Kellar. "The combined
expertise of Carmell and Axolotl is set to push the boundaries in
the field of regenerative treatments."
About Moonshot at NACET:
Moonshot propels startups and entrepreneurs to success via
intensive mentorship and a plethora of resources, including its
cutting-edge Flagstaff campus.
Moonshot is committed to fostering innovation across a broad
spectrum of industries, with a robust network of business experts,
investors, and educational
institutions. www.moonshotaz.com
About Axolotl Biologix:
Axolotl Biologix is focused on advancing regenerative medicine
through its innovative products designed for soft tissue repair,
aesthetic procedures, and orthopedic applications.
For Media Inquiries:
For more details or to arrange interviews, please reach out
to info@moonshotaz.com.
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SOURCE Moonshot