08:19 AM EDT, 05/19/2025 (MT Newswires) -- Protagenic Therapeutics ( PTIX ) and Phytanix Bio said Monday that they have agreed to combine in an all-stock deal.

The combined entity will be called Phytanix Inc. and will bring together two pipelines focused on stress-related and central nervous system disorders, five preclinical assets, and one clinical-stage asset, the companies said.

The combined company will be 35% owned by pre-combination Protagenic stockholders and 65% owned by Phytanix Bio stockholders after the merger, the companies said.

Shares of Protagenic were up 99% in recent Monday premarket activity.