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The merger consideration tells the story: Neuphoria Therapeutics (Nasdaq: NEUP) stockholders receive 14.5 per cent of the combined entity in an all-share deal announced July 23, 2026, in exchange for contributing a Nasdaq listing and at least $10 million in cash to Scancell Holdings.
The offsetting argument is that Scancell arrives with a 77 per cent Progression Free Survival figure at 22 months in advanced melanoma and up to $89 million in new financing to push that number through a registrational Phase 3 trial.
Deal mechanics and what NEUP holders actually get Scancell will acquire Neuphoria in a transaction approved unanimously by both boards, with completion targeted for late Q4 2026.
The Merger consideration is 20,414,065 ADSs (representing 204,140,654 Consideration Shares), priced at $0.1205 per ADS or Ordinary Share, representing approximately 13.7 per cent of Scancell's enlarged issued Ordinary Share capital at completion.
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