ANEW MEDICAL Enters Business Combination Agreement With Redwoods Acquisition

(RTTNews) - ANEW MEDICAL has entered into a definitive merger agreement with Redwoods Acquisition Corp. (RWOD), a special purpose acquisition company. The pro forma enterprise value of the combined company is up to $94 million, which includes up to $54 of cash held in the trust account of Redwoods, which is subject to redemption by Redwoods stockholders. The combined company will operate as ANEW MEDICAL and expects to remain listed on NASDAQ.

ANEW is a Wyoming corporation with a primary focus on developing disruptive new therapies to alleviate and/or reverse the progression of neurodegenerative diseases through the use of cell and gene therapy. ANEW plans to use the proceeds from the transaction to progress its lead gene therapy programs including for amyotrophic lateral sclerosis and Alzheimer's disease.

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