Cortexyme, Inc. announced that it entered into an agreement under which the company plans to acquire Novosteo Inc. Upon completion of the transaction, Novosteo stockholders will own approximately 15.5% of the combined company. The transaction, which has been approved by the Boards of Directors of both companies, is expected to close within the next 30 days. Upon the close of the acquisition, the company will appoint Novosteo executives Dr. Dirk Thye as chief executive officer, and Dr. Karen Smith as chief medical officer of Cortexyme, adding experienced leadership to support its next stage of growth.

Dr. Dirk Thye and Philip Low, PhD, a current director of Novosteo, will also join the company's Board of Directors upon close of the transaction. The company also plans to operate under a new name - Quince Therapeutics, Inc. - and begin trading under the ticker symbol QNCX in the coming months.