Eloxx Pharmaceuticals, Inc. (NasdaqGM:ELOX) acquired Zikani Therapeutics, Inc. for $25.2 million on April 1, 2021. Under the terms of the merger agreement, stockholders of Zikani received approximately 7.6 million Eloxx common shares and own approximately 16% of the combined company. In addition, Eloxx issued 442,142 restricted stock units under the Eloxx Pharmaceuticals, Inc. 2018 Equity Incentive Plan to certain employees of Zikani in respect of each individual’s prospective service as an officer, consultant or Director of the Eloxx Pharmaceuticals. Sumit Aggarwal will serve as President and Chief Executive Officer and Vijay Modur will serve as Head of Research and Development of Eloxx. Silvia Noiman and Martijn Kleijwegt have stepped down from the Eloxx Board. Gregory Williams now steps down as Chief Executive Officer but remains on as an adviser. Alan Walts and Raj Parekh were appointed to fulfill the vacancies and serve out the remaining terms of office. The Eloxx Board of Directors has approved the Merger Agreement and the related transactions. The consummation of the Merger was not subject to approval of Eloxx’s stockholders. Robert A. Cantone and Michael E. Ellis of Proskauer Rose LLP acted as legal advisors for Eloxx Pharmaceuticals. Peter Handrinos and Scott Shean of Latham & Watkins LLP acted as legal advisors for Zikani Therapeutics. Eloxx Pharmaceuticals, Inc. (NasdaqGM:ELOX) completed the acquisition of Zikani Therapeutics, Inc. on April 1, 2021. Zikani Therapeutics had a cash of $1.954 million.