CoGyn Pharmaceuticals, Inc. entered into an investment agreement to acquire SPAC I S.A. (WSE:SP1) in a reverse merger transaction on October 20, 2015. Robert S. Cohen, a major shareholder of CoGyn Pharmaceuticals, Inc., a future president of MATRX Pharmaceuticals, Inc., acquired a controlling stake of MATRX Pharmaceuticals, Inc. holding 108.7 million ordinary bearer shares of MATRX Pharmaceuticals (approximately 72.5% of the share capital). As consideration, SPAC pledges to pay PLN 9.54 million deposit. CoGyn will become a unit of company and it will be listed on the Warsaw Stock Exchange's (WSE) NewConnect market in Poland. The unknown investor had liabilities of PLN 9.54 million towards CoGyn Pharmaceuticals, Inc., the debt has been off-set with the deposit as part of the signed agreement.

On November 2, 2015, at the shareholder meeting of SPAC I S.A., the shareholders approved name change to CoGyn Pharmaceuticals SA and chose new supervisory Board. Robert Cohen will be appointed and will serve as new Chairman of management Board. The deal is expected to close in few weeks.

On December 4, 2015, SPAC I S.A. registers name change to CoGyn Pharmaceuticals SA.

CoGyn Pharmaceuticals pledged to pay an advance payment of PLN 10 million for acquisition of CoGyn Pharmaceuticals Inc. shares. Payment was conducted as deduction of investor's liabilities towards CoGyn Pharmaceuticals Inc. As a result, CoGyn Pharmaceuticals Inc. will become CoGyn Pharmaceuticals SA unit and will be listed on Warsaw Stock Exchange.

On February 16, 2016, CoGyn Pharmaceuticals SA resolves to change name to MATRX Pharmaceuticals SA.

CoGyn Pharmaceuticals, Inc. completed the acquisition of MATRX Pharmaceuticals S.A. (WSE:SP1) in a reverse merger transaction on March 11, 2016.