Aptorum Group enters LOI to merge Paths Innovation subsidiary with UST

Aptorum Group announced that its wholly owned subsidiary Aptorum Therapeutics has entered into a non-binding letter of intent and term sheet to merge its 100% subsidiary, Paths Innovation Limited and its underlying business with Universal Sequencing Technology Corporation, or UST, a San Diego and Boston based U.S. company dedicated to the development and commercialization of advanced proprietary DNA sequencing technologies. Paths Innovation currently holds, through its majority owned subsidiary Paths Diagnostics, the PathsDx technology, a liquid biopsy NGS based technology for the diagnostics of infectious diseases. As consideration of the Transaction upon closing, ATL will become a shareholder of the combined company. The transaction and other ancillary distributions, where relevant, are subject to, among other matters, the execution of a mutually agreeable definitive agreement, completion of due diligence and subject to several conditions including, but not limited to, director and shareholder approvals. The relevant term sheet has been filed under a 6-K by the company.