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Conduit Pharmaceuticals and Murphy Canyon Acquisition Corp. have announced a definitive agreement for a business combination. This merger will provide Conduit with an estimated enterprise value of $700.49 million, along with approximately $149.36 million cash proceeds to fund its clinical programs targeting autoimmune diseases and idiopathic male infertility. The combined company is set to list on NASDAQ under the ticker "CDT" in Q1 2023. Conduit's promising pipeline includes a glucokinase activator and an MPO inhibitor, aiming at unmet medical needs.
