Offers Update on OTC Disclosure Filings and Initial Funding
PLANO, TX / ACCESSWIRE / November 10, 2020 / Enzolytics, Inc. (OTC PINK:ENZC) or the "Company" announced the appointment of Ronald Moss, M.D., to the Medical Advisory Board of the Company.
Dr. Moss has an extensive 25-year background as an executive with numerous Biotechnology companies including direct clinical experience. He has a respected history of leveraging leadership, analytical analysis and clinical experience to assist companies through the complexity of drug development. He has extensive clinical and regulatory management expertise in guiding programs through Phase I, II, and III clinical trials, including IND and NDA experience. He is skilled at forging innovative partnerships with regulatory agencies, the NIH and large pharmaceutical entities.
He holds a Doctor of Medicine degree from the Chicago Medical School and extensive post graduate training at the National Institutes of Health and is board certified in Adult and Pediatric Allergy and Clinical Immunology. He is widely published with over 100 publication in peer reviewed journals. He is also a fellow of the American Academy of Allergy Asthma and Immunology and the American College of Allergy, Asthma and Immunology.
Charles Cotropia, CEO of Enzolytics, stated, "The addition of a professional of the caliber of Dr. Moss to the team of professionals with Enzolytics adds significant expertise to our progress toward realizing the full potential of combining the anti-HIV technology of BioClonetics with that of Enzolytics' ITV-1 Peptide therapeutic."
The Company has also procured a commitment for funding of $500,000.00 and has received the first tranche of $250,000. These funds are earmarked for implementation of the planned combined operations and the initial steps of the merged business strategy of creating successful therapeutics against infectious diseases thereby increasing the value of the Company's extensive technology. The second Tranche of funding will be received upon completion of the business combination documents. As part of the initial $500,000.00 funding, the Company and certain of its current convertible debt holders have agree to a 30-day standstill on issuance of any additional shares from conversions of debt.
Enzolytics has begun the process of bringing its filings current having filed the September 30, 2018, December 31, 2018 and March 31, 2019 reports.
About Enzolytics, Inc;
Enzolytics, Inc. is a drug development company committed to the commercialization of its proprietary proteins for the treatment of debilitating infectious diseases. Enzolytics is committed to creating drugs for the better health of mankind. Enzolytics is a 49% shareholder of IMMB BG.
Enzolytics' flagship compound ITV-1 (Immune Therapeutic Vaccine-1) is a suspension of Inactivated Pepsin Fraction (IPF) proposed for the treatment of HIV/AIDS. IPF is the active drug substance of ITV-1 and is a purified extract of porcine pepsin. ITV-1 has been shown to modulate the immune system.
About BioClonetics Immunotherapeutics, Inc.
BioClonetics Immunotherapeutics, Inc. is a Dallas Texas biotech company with plans to merge with Enzolytics. BioClonetics has developed a proprietary technology for producing fully human monoclonal antibodies (mAbs) against infectious diseases including HIV, rabies, influenza A, influenza B, tetanus, and diphtheria. Its proprietary methodology for producing fully human monoclonal antibodies may be used to produce therapeutics treatments for many infectious diseases including the Coronavirus.
Safe Harbor Statement: This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Enzolytics, Inc. (f/k/a Eco Petroleum Solutions, Inc. / Immunotech Laboratories, Inc.) from time to time in its periodic reports filed with the SEC. IPF is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world.
While Enzolytics, Inc. believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Enzolytics to establish the efficacy of IPF in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of IPF in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate.
Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of the statements made, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. These forward-looking statements are made as of the date of this press release, and the Company expressly disclaims any intention or obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
IR Contact:
Enzolytics, Inc.
2000 North Expressway
Plano, TX 75074
Phone: (972) 292-9414
Fax: (972) 292-9414
SOURCE: Enzolytics, Inc.