Seres Therapeutics (MCRB) just unveiled an update.
Seres, SPN, and Bacthera AG have agreed to terminate their existing Manufacturing Agreement as part of a new Purchase Agreement. This decision comes with the stipulation that Seres will assign the agreement to SPN, who will then pay Bacthera AG to settle any outstanding liabilities. This move coincides with SPN’s private placement of shares, asserting their status as an accredited investor and confirming the shares are for personal investment, not for resale or distribution in violation of the Securities Act.
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