ViCapsys, Inc. acquired SSGI, Inc. in a reverse merger transaction.
December 25, 2017
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ViCapsys, Inc. entered into a share exchange agreement to acquire SSGI, Inc. in a reverse merger transaction on December 22, 2017. Pursuant of the share exchange agreement, each current shareholder of ViCapsys will receive 1.5 shares of the same class of shares held in SSGI, and the ViCapsys shareholders will own, in the aggregate, 87.45% of the issued and outstanding capital stock of SSGI, on an as converted to common stock basis. SSGI, Inc. changed its name to Vicapsys Life Sciences, Inc., in anticipation of the closing of the share exchange agreement and requested a symbol change from ticker symbol “SSGI” to the current symbol “VICP”.
ViCapsys, Inc. completed the acquisition of SSGI, Inc. in a reverse merger transaction on December 26, 2017.
Vicapsys Life Sciences, Inc. develops and commercializes, on a worldwide basis, various intellectual property rights relating to a series of encapsulated products that incorporate proprietary derivatives of the chemokine CXCL12 for creating a zone of immunoprotection around cells, tissues, organs and devices for therapeutic purposes. VICAPSYN is the Companyâs product line that is applied to transplantation therapies and related stem-cell applications in the transplantation field. The lead product candidate embodiment in transplantation therapy to treat Type 1 Diabetes (T1D) is an encapsulated human islet cell cluster that is intended to restore normal glucose control when implanted into the peritoneal cavity of a patient. It also develops another product candidate line based on CXCL12 with the trade name of VYBRIN. The clinical applications of VYBRIN are being explored in several areas, including prevention of post-surgical adhesions in abdominal surgery and others.
VICAPSYS LIFE SCIENCES, INC. 