Enzolytics Inc. executed a non-binding letter of intent to acquire BioClonetics Immunotherapeutics, Inc.
September 15, 2020
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Enzolytics Inc. (OTCPK:ENZC) executed a non-binding letter of intent to acquire BioClonetics Immunotherapeutics, Inc. on September 15, 2020. Enzolytics Inc. entered into an agreement to acquire BioClonetics Immunotherapeutics, Inc. on October 19, 2020. The BioClonetics Clone 3 recombinant mAbs will be combined with the Enzolytics' flagship compound ITV-1 which is a suspension of Inactivated Pepsin Fragment. The proposed merger anticipated in the non-binding LOI will result in Charles Cotropia being appointed as Chief Executive Officer of the merged entity and Harry Zhabilov and Joseph Cotropia, Managing Director, being appointed as Co-Cso. Gaurav Chandra, Managing Director, will serve as Chief Operating Officer of the merged entity. As of October 1, 2020, Harry Zhabilov, Chief Executive Officer of Enzolytics will also be joining the Board of Directors of BioClonetics.
Enzolytics, Inc. is a drug development company. The Company is engaged in the commercialization of its proteins and monoclonal antibodies for the treatment of debilitating infectious diseases. Its patented and clinically tested compound, ITV-1 (Immune Therapeutic Vaccine-1), is a suspension of Inactivated Pepsin Fraction (IPF) for the treatment of human immunodeficiency virus/ acquired immunodeficiency syndrome (HIV/AIDS). It has a technology for producing fully human monoclonal antibodies (mAbs) against infectious diseases which is being employed to produce monoclonal antibody therapeutics for treating the Coronavirus (SARS-CoV-2), HIV-1 and the Feline Leukemia virus. The Company also plans to produce mAbs targeting many other viruses, including HIV-2, Influenza A and B, H1N1 influenza, Respiratory syncytial virus (RSV), Small-Pox, Ebola Virus, Tetanus, Diphtheria, HTLV-1/2, Rabies, Herpes zoster, Varicella zoster, Anthrax, Mason-Pfizer monkey virus (MPMV) and Visna virus (VISNA).