North Immunology to go public via reverse merger with Aethlon, targeting eczema market

North Immunology, an early-stage biotech developing a dual-acting antibody for eczema, announced plans to become a public company through a reverse merger with Aethlon Medical.

The transaction will give North Immunology investors about 95.25% of the combined company, while existing Aethlon shareholders will retain a small stake and receive contingent rights tied to Aethlon’s Hemopurifier business.

After the deal, the new entity will keep the North Immunology name, list on Nasdaq under the ticker "NRTX," and be led by North Immunology’s management team, with a board that includes both existing and new independent directors.

The companies expect the merger to close in the first quarter of 2027, adding North Immunology to a growing list of biotech firms using reverse mergers to access public markets quickly.