Matinas BioPharma to Merge with GH Power, Sell Drug Asset to Azurity

Matinas BioPharma announced a strategic business combination with GH Power that will transform the company into a publicly traded clean energy firm, while simultaneously signing a definitive agreement to sell its lipid nanocrystal drug-delivery platform and lead pharmaceutical candidate MAT2203 to Azurity Pharmaceuticals, the company disclosed Wednesday.

The combined entity will concentrate on modular carbon-free energy solutions, green hydrogen production, critical materials sourcing, and industrial decarbonization — sectors drawing significant investor and government attention as the global energy transition accelerates. The deal represents a sweeping reinvention of Matinas BioPharma's corporate identity and strategic direction.

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By offloading the LNC platform technology alongside MAT2203 to Azurity, Matinas effectively exits the pharmaceutical development business it was built around, allowing the surviving public company to redirect capital and management focus entirely toward the emerging clean energy space. The move removes the ongoing costs of clinical-stage drug development while monetizing those assets through the Azurity transaction.

The GH Power combination is structured to result in a publicly traded advanced clean energy company, giving existing Matinas shareholders continued equity exposure — this time to a business targeting green hydrogen and industrial decarbonization rather than antifungal therapeutics. Details on transaction valuation, share exchange ratios, and expected closing timelines were not disclosed in the initial announcement.

The dual-transaction strategy — merging up into a growth sector while shedding legacy biotech assets — reflects a broader trend of small-cap public shells repositioning toward clean energy to attract new capital pools. Continue reading at GlobalNewswire.