XORTX Therapeutics Acquired | Healthcare M&A Deal

XORTX Therapeutics has completed an other acquisition of XORTX Therapeutics, a pharmaceuticals business in Calgary, Alberta, for US$5 million. XORTX Therapeutics is a late-stage clinical pharmaceutical company developing therapies for gout and progressive kidney disease, supporting healthcare M&A in biotechnology and pharmaceuticals. The public offering closed with 2,659,574 common shares and pre-funded warrants issued at US$1.88 per share, with each pre-funded warrant exercisable for one common share at $0.0001. The healthcare M&A financing is intended for working capital and general corporate purposes, subject to final approval by the TSX Venture Exchange, with E.F. Hutton & Co. acting as exclusive placement agent and receiving US$200,000 in cash commissions.