MIRA Pharmaceuticals Announces Strategic Acquisition of SKNY

MIRA Pharmaceuticals has announced board approval for the acquisition of SKNY Pharmaceuticals, with a combined enterprise valuation exceeding $60 million. The acquisition targets obesity and nicotine dependence, incorporating a $5 million contribution from SKNY upon closing. An independent valuation by Moore Financial Consulting assessed SKNY at $30.5 million and MIRA at $30 million.

MIRA plans to merge with SKNY to enhance their market presence in therapeutic areas with high unmet needs. SKNY-1, SKNY's lead compound, is designed to target cannabinoid receptors and monoamine oxidase B, addressing metabolic dysfunction and nicotine dependence. MIRA's CEO Erez Aminov views this acquisition as a unifying strategy for developing first-in-class therapies.

The merger, still pending shareholder approval, aims to secure a foothold in lucrative global markets, such as the weight loss and smoking cessation sectors, predicted to grow significantly by 2030.