Third Tranche of $1.2 Million Financing Completed
COLLEGE STATION, TX / ACCESSWIRE / January 19, 2021 / Enzolytics, Inc. (OTC PINK:ENZC)(the "Company") today, announced it has received the official filing receipt from the U.S. Patent Office confirming the filing of its patent application for "Nuclear Proteins Isolated from Mammalian Spinal Cord Immune Factor - Pharmaceutical Composition for Treatment" and has received the third tranche of the $1.2 million dollar financing.
The Company expects to file the disclosure section of the Annual Report pursuant to the Pink Basic Disclosure Guidelines by Tuesday afternoon. To maintain a current status with OTC Markets, the Company plans on filing the Financial Statements section of the Annual Report as well under the Pink Guidelines while the Audits for the December 31, 2020 and 2019 calendar year ends are completed.
CEO Charles Cotropia stated, "We continue to make progress on the various areas of focus of ENZC's management team. We are taking the approach on the Annual report filings to ensure that we maintain the current status but are putting our effort into finalizing the audited statements as quickly as possible. The updates on the validation batch of ITV-1, grants, Web Page and potential collaborations will be forthcoming."
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' flagship compound ITV-1 (Immune Therapeutic Vaccine-1) is a suspension of Inactivated Pepsin Fraction (IPF), which studies have shown is effective in 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., a wholly owned subsidiary of Enzolytics, is a Dallas and College Station, Texas biotech company with 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 SARS-CoV-2 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. from time to time in its periodic reports filed with the SEC. ITV-1 is not approved by the U.S. 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 ITV-1 in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of ITV-1 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.
2000 North Central Expressway
Plano, TX 75074
Phone: (972) 292-9414
Fax: (972) 292-9414
Institute for Preclinical Studies
Texas A&M University
College Station, TX 77843-4478
SOURCE: Enzolytics, Inc.