Murphy Canyon Acquisition says SEC declares Form-S4 registration effective

Murphy Canyon Acquisition announced that its proxy statement/registration statement on Form S-4 filed with the U.S. Securities and Exchange Commission on May 12, 2023, as amended, was declared effective by the SEC on August 11, 2023. The Registration Statement was filed in connection with the proposed business combination between Murphy Canyon and Conduit Pharmaceuticals previously announced on November 8, 2022. Conduit is a disease agnostic life science company providing an efficient model for compound development. Formed in 2019, Conduit is a departure from the traditional big pharma/biotech business model whereby, typically companies shepherd their assets through regulatory approval, Conduit acquires assets that are Phase II-ready and then seeks an exit through third-party license deals following successful clinical trials. Conduit is led by a highly experienced team of pharmaceutical executives, including Dr. David Tapolczay and Dr. Freda Lewis-Hall, established to fund the development of clinical molecules licensed from major pharmaceutical companies. Dr. David Tapolczay will remain Conduit’s CEO, and Dr. Freda Lewis-Hall will be the Chair of the Board of Directors upon closing of the business combination. Murphy Canyon has scheduled a special meeting of its stockholders to seek approval and adoption of the Business Combination Agreement and the transactions contemplated thereby, and other related matters, a key milestone in the business combination process. The Murphy Canyon special meeting of stockholders will be held on September 7, 2023, at 10:00 am Eastern Time. Murphy Canyon’s common stockholders of record as of the close of business on August 2, 2023, are entitled to receive notice of, to vote, and have their votes counted at the special meeting and any adjournment thereof. The closing of the Transaction, which is expected to occur in the third quarter of 2023, is subject to approval by Murphy Canyon’s stockholders and the other closing conditions set forth in the definitive Business Combination Agreement. Upon closing, the combined company will be called “Conduit Pharmaceuticals Inc.”, and its common stock and warrants are expected to be listed on The Nasdaq Capital Market under the symbols “CDT” and “CDTTW,” respectively.