Pulmatrix and Eos SENOLYTIX have signed a definitive merger agreement that will create a combined company focused on first-in-class gerotherapeutic peptide drugs targeting mitochondrial dysfunction and aging-related disease. Following completion of the transaction, the merged entity will operate as Eos SENOLYTIX, Inc. and is expected to list on Nasdaq under the ticker symbol “EOSX.”
As part of the deal, the companies arranged concurrent private financings totaling $19 million in gross proceeds to advance Eos’s MitoXcel platform and lead clinical candidate PTC-2105 for sarcopenia and sarcopenic obesity. The financing package includes a $1 million investment in Pulmatrix from RCM Eos PIPE HOLDINGS LLC and a bridge facility for Eos from RCM Eos Holdings, LLC, both managed by Rapha Capital Management, LLC.
The boards of directors of both companies unanimously approved the proposed merger, which is expected to close in mid-2026, subject to customary conditions including stockholder approvals and effectiveness of a registration statement on Form S-4 with the U.S. Securities and Exchange Commission. After closing and payment of advisory and placement fees, current Pulmatrix stockholders are expected to own about 6% of the combined company, while Eos stockholders and investors in the financing rounds are expected to hold approximately 94%.
The transaction will pivot Pulmatrix from its historical focus on inhaled therapeutics based on its iSPERSE dry powder delivery technology toward Eos’s pipeline of mitochondrial-targeted geropeptides. Eos’s MitoXcel platform uses AI-driven peptide design to target mitochondrial dysfunction and senescent cells, with preclinical data showing improvements in body composition, lean mass, visceral fat reduction and physical function in aging animal models.
Lead candidate PTC-2105 is being developed for sarcopenia and sarcopenic obesity, conditions marked by progressive loss of muscle mass and function in older adults that currently lack approved drug therapies. Eos positions PTC-2105 as a potential alternative or complement to GLP-1 receptor agonists, aiming to improve overall body composition and healthspan rather than weight loss alone.
Kevin Slawin, M.D., founder and chief executive officer of Eos, will lead the combined company, bringing prior experience as founder of CAR-T developer Bellicum Pharmaceuticals and other aging biology ventures. Pulmatrix CEO Peter B. Ludlum said the merger offers Pulmatrix shareholders exposure to an emerging gerotherapeutic platform that builds on recent regulatory progress in mitochondrial-targeted therapies, including the approval of elamipretide (FORZINITY) in the U.S.
Subscribe to our e-Newsletters
Stay up to date with the latest news, articles, and events. Plus, get special offers
from American Pharmaceutical Review – all delivered right to your inbox!
Sign up now!