Enochian Biopharma Inc. entered into an agreement to acquire DanDrit Biotech USA, Inc. (OTCPK:DDRT) in a reverse merger transaction on January 12, 2018. As consideration for the transaction, the stockholders of Enochian shall be entitled to receive 50% of the number of shares of DanDrit's common stock issued and outstanding, earn out of pro rata shares of DanDrit's common stock upon the exercise or conversion of any of DanDrit's stock options and warrants currently outstanding and expenses related to the acquisition and the transactions. After the completion of the acquisition, DanDrit plans to change its name to "Enochian ImmunoScience, Inc." and to relocate to its new headquarters in Los Angeles, California. The transaction is subject to customary closing conditions, including execution of an intellectual property license agreement, execution of offer letters, execution of stockholders agreement, consummation of financial audit of Enochian, DanDrit Biotech shall have not less than $19 million in cash on hand, less up to a maximum of $1 million of expenses, execution of certain employment and/or consulting agreements, satisfaction of all intellectual property due diligence, consent execution by the majority stockholder (Weird Science), DanDrit, Weird Science LLC and a certain stockholder of DanDrit will have entered into an investor rights agreement and a standstill & lock-up agreement, resignations of all of the officers and directors of Enochian and receive all third-party consents. Board of Directors of Enochian Biopharma approved the transaction and recommended unanimous approval and adoption of the agreement by the stockholders owning 100% of the outstanding common stock of Enochian. Board of Directors of DanDrit also approved the transaction. DanDrit expects the acquisition to be finalized on or before February 15, 2018. Clayton E. Parker of K&L Gates LLP acted as legal advisor for DanDrit Biotech USA. Michael J. Lerner of Lowenstein Sandler LLP acted as legal advisor for Enochian Biopharma in the transaction.