cystron lives

The Cystron shell company was to live fourteen days for the appearance of a Covid 19 vaccine and separate ultimately $38 million from capital markets by Akers Biosciences.  

Cystron lives today in Oravax Medical or is Oravax Medical. 

The eclectic gathering of Cystron shareholders signed agreements linking seven parties in two publicly listed companies plus a biotech mannequin to turn Cystron into Oravax.

The details of the agreements are the legerdemain of mergers to hide rumpled laundry: Termination and Release, Contribution and Assignment, and a wayward License. The fancy footwork of cash and distribution of liabilities is less interesting than the folks that need to consent and what they need to consent to. 

The Termination and Release parties:

     Akers Biosciences

    Cystron (that Akers bought from Premas, Cutter Mill, Run Ridge, and an undisclosed individual)

    Premas (that licensed the science from itself as licensee and Cystron shareholder)

    Run Ridge

    Cutter Mill

    An individual

The Contribution and Assignment has as parties

   Akers

   Cystron

   Oravax Medical (63% owned by Oramed, CEO Mr Kidron is the furtive individual in the Termination)

The Cyston shareholders out of the closet 18 months and $38 million after formation agreed to waive monies due under a merger, waive monies due under a change of control, and waive underwear hoisted on a tree branch into the nearest tropical storm provided the price was right.  Premas Biotech enjoyed the additional responsibility of multiples consents, estoppel, and other documentation which presumably was the original script.

Oravax now promises a tablet for insulin and a tablet for a Covid 19 vaccine without any evidence that the scientific or any other community has passed even a furtive glance at the promise of either.  Undeterred Oravax has as a  majority shareholder Oramed, Chinese owned, led my CEO Nadav Kidron who is a connoisseur of selling shares into the paid press release while moonlighting as the unnamed individual for those in need of one.

Somewhere in the collective imagination at 1185 Park Avenue, home to Akers, Oramed, and Oravax is kabuki to decide who is selling what to whom without telling whom the whom is, paid for with public credulity, capital, and the blessings of SEC registration documents.

These tales have titles.