BioVie Inc. announced the acquisition of the biopharmaceutical assets of NeurMedix Inc. Under the terms of the agreement, BioVie will pay to NeurMedix consideration consisting of 8,361,308 newly issued BioVie shares and approximately $3.0 million cash at closing, an additional $7.3 million cash payment after all contemplated clinical programs have been funded and a pivotal Phase 3 clinical trial for NuerMedix’ lead drug candidate, NE3107, has met its primary endpoints, and additional shares over time as various significant clinical, regulatory, and commercial milestones are met, as detailed below. The transaction is expected to close in June 2021. Concurrent with the assets acquisition, BioVie announced the appointment of Cuong V. Do as President and CEO, effective immediately. Mr. Do is a veteran biotech and pharmaceutical entrepreneur, having previously founded Callidus Biopharma (sold to Amicus Therapeutics), Lysodel Therapeutics and M6P Therapeutics. Previously, Mr. Do was President, Global Strategy Group at Samsung, where he helped create the strategy for Samsung’s biologics business. Prior to Samsung, he was the Chief Strategy Officer for Merck where he helped focused the company’s portfolio and its future on oncology. He was also a former senior partner at McKinsey & Company, where he spent 17 years and helped build the healthcare, high-tech and corporate finance practices.