ANEW MEDICAL COMPLETES MERGER WITH RWOD, LAUNCHES NASDAQ TRADING UNDER WENA TICKER

ANEW MEDICAL, INC., a biopharmaceutical innovator dedicated to creating transformative therapies for central nervous system and neurodegenerative conditions, has successfully finalized its business combination with Redwoods Acquisition Corp. (NASDAQ: RWOD). Following the completion of this transaction announced on June 21, 2024, ANEW MEDICAL is now positioned to trade on the Nasdaq Global Market, with shares and warrants operating under the symbols “WENA” and “WENAW” respectively.

The merger integration marks a significant milestone for ANEW MEDICAL as it gains access to the Nasdaq marketplace and its expansive international investor community. This development enables the company to accelerate its strategic priorities, including the advancement of three major platform technologies that have been integrated into its portfolio. The transaction represents a pivotal moment for advancing novel disease-modifying approaches in the neurodegenerative space.

Key Transaction Details

Under the merger structure, each share of ANEW previously trading under the symbol LEAS will be converted to one twenty-five-thousandth of a share in the merger consideration, with fractional shares rounded upward. This conversion mechanism ensures smooth transition for existing shareholders into the new Nasdaq-listed entity.

Dr. Joseph Sinkule, Founder and CEO of ANEW MEDICAL, emphasized the significance of this milestone, noting that the organization now possesses enhanced capital market access and investor resources. He highlighted plans to announce multiple strategic accomplishments achieved throughout the preceding year and expressed gratitude to all stakeholders who supported the merger process.

Jiande Chen, Chief Executive of RWOD, reflected on the partnership, stating his confidence in ANEW MEDICAL’s potential to play a substantial role in developing innovative gene therapies aimed at improving patient outcomes for those affected by neurodegenerative and age-related conditions.

ANEW MEDICAL’s Therapeutic Focus

ANEW MEDICAL specializes in developing proprietary disease-modifying innovations targeting Alzheimer’s, Parkinson’s Disease, ALS, and other rare neurodegenerative disorders. The company’s therapeutic arsenal includes protein, gene, and cell therapy approaches designed to address age-related pathologies.

Beyond CNS-focused treatments, ANEW MEDICAL maintains exclusive global rights to several complementary platform technologies. These include a library of melanocortin peptides demonstrated to regulate appetite, food consumption, and weight management. Additionally, the company has developed Nanoject™, a patented dry-nanoparticle powder injection system engineered for safe, painless self-administration of insulin, GLP-1 agonists, fertility medications, and various other pharmaceuticals, vaccines, and protein therapeutics.

The organization is led by a seasoned management team and advisory board comprising industry veterans with over 25 years of combined experience in medical product development and market commercialization.

Advisory Support

Chardan provided exclusive M&A and Capital Markets advisory services to ANEW MEDICAL throughout the transaction. Legal representation for ANEW MEDICAL was handled by Paul Goodman of Cyruli Shanks & Zizmor, LLP, while Hunter Taubman Fischer & Li LLC served as counsel to Chardan. Loeb & Loeb LLP provided legal counsel to RWOD in connection with the business combination.

About the Combined Entity

ANEW MEDICAL, now a Nasdaq-listed pharmaceutical company, remains committed to advancing cutting-edge protein, gene, and cell therapies targeting age-related and neurodegenerative pathologies. The company’s comprehensive platform encompasses both primary CNS therapeutic development and complementary metabolic intervention technologies, positioning it at the forefront of next-generation therapeutics innovation.