VANCOUVER, BC / ACCESSWIRE / January 22, 2020 / Duckhorn Ventures Ltd. (the "Company" or "Duckhorn"), announces that the Company and Enosi Life Sciences Corp. ("Enosi") have mutually agreed to restructure their proposed transaction, resulting in Duckhorn acquiring an equity interest in Enosi.
Under the new agreement, Enosi has issued 825,000 common shares in its capital (the "Shares") to Duckhorn in full satisfaction of all obligations owing by Enosi to Duckhorn, including the settlement of all funds advanced to Enosi.
Enosi is a biotech company with plans to find innovative pharmaceutical solutions to some of the world's most problematic and common diseases, including cancer and arthritis. Its primary objectives are 1) to translate novel technologies into valuable therapeutics in cancer and autoimmune disease and 2) to realize the potential of novel combinations of therapeutics acting synergistically to cure disease. New drug combinations are required to enhance response rate and decrease rate of relapse; these approaches will be patentable, so that successful combinations can be royalty bearing or licensed to the pharmaceutical industry.
The failure of therapeutics for autoimmune disease and cancer is due to the disease becoming resistant to treatment. The key to a more successful therapy is in attacking a target that is the specific cause of the pathology. The scientific cofounders of ENOSI, H. Michael Shepard, and Prof. Sir Marc Feldmann, have combined their Lasker Prize-winning know-how in both autoimmune disease and cancer, to create new a new approach to therapeutics that will overcome the twin obstacles of specificity and resistance.
Dr. Michael Shepard is renowned for his work leading the development and discovery of antibody recognizing HER-2, trastuzumab. This is an FDA approved therapeutic for breast cancer, sold as Herceptin. This is the 4th best selling drug in the world with $7.4 billion USD in annual sales (2017). Trastuzumab has been called the ‘shot heard around the world' because it changed the way cancer drugs are discovered and the way patients are selected for treatment.
Professor Sir Marc Feldman is one of the pioneers in this field, developing anti-TNF therapy from the very beginning, generating a new concept in the 1980's, and testing it in test tube and animal models prior to leading clinical trials with Infliximab (ultimately branded and sold as Remicade). Since 2012, anti-TNF is the best selling drug class in the world at an estimated $40 billion USD in sales per year.
For more information please contact the Company at 778-331-8505 or email: [email protected]
On Behalf of the Board of Directors of Duckhorn Ventures Ltd.
Scott Ackerman
Director
DUCKHORN VENTURES LTD.
Suite 1600 - 609 Granville Street
Vancouver, BC V7Y 1C3
Telephone: 1-778-331-8505
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
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SOURCE: Duckhorn Ventures Ltd.