Axolotl Biologix finalizes merger with Carmell Therapeutics

Moonshot announced that its incubator client, Axolotl Biologix, based in its NACET Flagstaff, Arizona campus, has finalized a merger with Carmell Therapeutics. As outlined in the Merger Agreement, Axolotl’s shareholders will receive an Initial Equity Value of $65M, allocated as $8M in cash and $57M in CTCX stock upon closing. Additionally, they stand to gain up to $75M in potential Milestone Equity Payments, which are structured as 12% cash and 88% in CTCX stock, subject to the achievement of defined revenue and business benchmarks. “The merger between Carmell Therapeutics and Axolotl Biologix exemplifies the type of innovation and growth that Moonshot is designed to cultivate,” stated Scott Hathcock, President & CEO of Moonshot. “Axolotl has been a standout client at our Flagstaff campus. This merger with an industry giant like Carmell Therapeutics is a significant development for the future of regenerative medicine.”