Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 127

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 Murphy Canyon Acquisition Corp (“MURF”) and Conduit Merger Sub, Inc., a Cayman Islands exempted company
and a wholly owned subsidiary of MURF (“Merger Sub”), was completed pursuant to the Agreement and Plan of Merger, dated November
8, 2022, as amended, (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, at the closing, (i) Merger
Sub merged with and into Old Conduit, with Old Conduit surviving the Business Combination as a wholly-owned subsidiary of MURF, and (ii)
MURF changed its name from Murphy Canyon Acquisition Corp. to CDT Pharmaceuticals Inc. Effective August 5, 2025, the Company changed
its name from Conduit Pharmaceuticals Inc. to CDT Equity Inc. Our change to CDT Equity Inc. reflects the evolution of our strategy as
a data-driven biotech development company focused on identifying, enhancing, and advancing high-potential therapeutic assets through
scientific innovation and strategic partnerships.

CDT
Equity is a data-driven biotech development company focused on identifying, enhancing, and advancing high-potential therapeutic assets
through scientific innovation and strategic partnerships. The company has evolved into a broader, more agile platform that leverages
artificial intelligence, solid-form chemistry, and efficient asset repositioning to accelerate the development of novel therapeutic treatments.

CDT
Equity’s strategy is centered on unlocking the untapped value of clinical-stage compounds, particularly those deprioritized by
larger pharmaceutical companies with strong, supporting Phase I safety data. Through advanced co-crystallization and solid-form technologies
developed at our Cambridge facility, we aim to improve drug properties and have successfully extended patent life of certain drugs by
up to 20 years.

Our
current pipeline includes candidates targeting inflammatory and autoimmune disorders, as well as idiopathic male infertility, dermatology
and animal health. The intellectual property portfolio comprises pending patent applications in several international jurisdictions describing
a solid-form compound, including the AZD1656 Cocrystal (a HK-4 Glucokinase Activator). Our pipeline research includes a number of compounds
that serve as promising alternatives to existing clinical assets currently marketed and sold by large pharmaceutical companies, which
we have identified as having an opportunity to develop further intellectual property positions through solid-form technology.

Our
collaboration with Sarborg enables us to apply proprietary algorithms utilizing AI-powered disease mapping to identify novel re-purposing
opportunities