Hepion Pharmaceuticals, Inc. Announces Termination of Merger Agreement with Pharma Two B Ltd.

Company Overview - Hepion Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company focused on developing treatments for chronic liver diseases, including non-alcoholic steatohepatitis (NASH) and hepatocellular carcinoma (HCC) [3] - The company is headquartered in Edison, New Jersey and has been working on a cyclophilin inhibitor, rencofilstat, aimed at addressing multiple complex pathologies related to liver disease progression [3] Recent Developments - Hepion announced the termination of its merger agreement with Pharma Two B Ltd., which was originally established on July 19, 2024 [1] - No termination fees will be exchanged between the two parties as a result of this mutual decision [2] - The special meeting of Hepion's stockholders scheduled for December 12, 2024, has been cancelled, and the proposals in the Definitive Proxy Statement filed on November 8, 2024, have been withdrawn [2] Strategic Actions - In December 2023, Hepion's board approved a strategic restructuring plan aimed at preserving capital by reducing operating costs [3] - The company has initiated a process to explore various strategic and financing alternatives to maximize stockholder value in the current financial environment and NASH drug development landscape [3] - Hepion has completed wind-down activities for its ASCEND-NASH clinical trial, which has now been closed [3]