Pulmatrix Inc. (PULM) has agreed to merge with Eos SENOLYTIX, Inc, a biotechnology company developing therapies aimed at improving health span by restoring mitochondrial function. The combined company will operate as Eos SENOLYTIX, Inc. and is expected to trade on Nasdaq under the ticker "EOSX".
The merger is supported by $19 million in new private financing, which will help advance Eos's lead candidate, PTC-2105, a mitochondrial-targeted geropeptide being developed for sarcopenia and sarcopenic obesity. The funding includes a $1 million investment into Pulmatrix and a bridge financing for Eos, both arranged by Rapha Capital Management.
Eos's platform is built on its MitoXcel AI-driven geropeptide technology, designed to improve body composition by increasing lean mass while reducing harmful visceral fat, without directly targeting appetite or fat-regulation pathways. The company says this approach shifts obesity treatment toward healthy body-composition improvement rather than simple weight loss.
PTC-2105 has shown encouraging preclinical results, including reductions in visceral fat, increases in lean muscle mass, and improvements in physical performance. Eos says these effects differ from traditional GLP-1 drugs, which primarily drive weight loss through appetite suppression.
Following the merger, Pulmatrix shareholders are expected to own about 6% of the combined company, while Eos shareholders and financing participants will hold roughly 94%. The board of both companies have unanimously approved the deal, which is expected to close in mid-2026 pending shareholder approval and customary conditions.
Pulmatrix CEO Peter Ludlum said the merger gives Pulmatrix shareholders a chance to participate in the growth of a company targeting the biology of aging. Eos CEO Dr. Kevin Slawin, who will lead the combined company, said the transaction strengthens efforts to bring forward therapies designed to improve healthspan by targeting mitochondrial dysfunction.
PULM has traded between $1.63 and $9.37 over the past year. The stock closed Wednesday's trading at $2.12, down 1.40%. In pre-market the stock fell further to 35%, at $1.38.
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