$ENZC Enzolytics, Inc. Announces the Grant of a Di
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Posted On: 05/12/2021 10:47:23 AM
$ENZC Enzolytics, Inc. Announces the Grant of a Distributorship License for the Right to Distribute its Anti-Hiv-1 Therapeeutic Itv-1 and a Stock Agreement Valued in Total At $7 Million US Dollars
https://www.accesswire.com/646750/enzolytics-...us-dollars
COLLEGE STATION, TX / ACCESSWIRE / May 12, 2021 / Enzolytics, Inc. (OTC Markets "ENZC" or the "Company"
today announced it has granted a distributorship license to a European pharma entity (the Licensing Entity) for the right to distribute the Company's anti-HIV-1 therapeutic ITV-1 in the countries of India, Pakistan, UAE, Indonesia, Philippines, Nigeria, Benin and Togo, Kenya, Tanzania, Rwanda, Libya, Uganda, North Sudan, Egypt, Morocco, and Tunisia (the Licensed Territory). The Licensing Entity is the owner of a pharmaceutical plant in Eastern Europe. Pursuant to the Agreement, Enzolytics will received $1 Million USD and 50% ownership in the Licensing Entity valued at $8 Million. The License is granted with a commitment by the Licensee to sale and distribute the ITV-1 therapeutic in the Licensed Territory.
In addition, the Licensing Entity will invest $2 Million USD in the Company in exchange for Company Preferred Series E stock bringing to the Company $3 Million in cash plus a 50% ownership in the Licensing Entity. This agreement will result in establishing a committed partner for sale and distribution of the Company's ITV-1 therapeutic in the Licensed Territory as well as 50% ownership in Licensee and its profit derived from sales in the Licensed Territory.
Charles Cotropia, CEO, stated, "This is yet another milestone in our Company's progress toward producing revenue from our technology and the therapeutics produced from it. We gratefully acknowledge Harry Zhabilov's years of commitment to the Company that are making possible the partnerships and agreements now being finalized. As a result of his efforts, we have another European transaction which we expect to consummate and report in the coming week. Just as important as the investments being made into the Company are the partners and licensees being engaged - all individuals who have strategic contacts within the countries in which they will be distributing our therapeutics. These strategic contacts and their familiarity with geographic areas being served is as significant as any aspect of the arrangements we are completing."
"For many years, we have been developing and strengthening the relationships that are now leading to our current significant partnerships. With the advances the Company is making toward preparation for and completion of clinical trials in Europe, which will lead to approval from the EMA, we are meeting our goal of bring our technology to those in need", said Harry Zhabilov, CSO.
https://www.accesswire.com/646750/enzolytics-...us-dollars
COLLEGE STATION, TX / ACCESSWIRE / May 12, 2021 / Enzolytics, Inc. (OTC Markets "ENZC" or the "Company"
today announced it has granted a distributorship license to a European pharma entity (the Licensing Entity) for the right to distribute the Company's anti-HIV-1 therapeutic ITV-1 in the countries of India, Pakistan, UAE, Indonesia, Philippines, Nigeria, Benin and Togo, Kenya, Tanzania, Rwanda, Libya, Uganda, North Sudan, Egypt, Morocco, and Tunisia (the Licensed Territory). The Licensing Entity is the owner of a pharmaceutical plant in Eastern Europe. Pursuant to the Agreement, Enzolytics will received $1 Million USD and 50% ownership in the Licensing Entity valued at $8 Million. The License is granted with a commitment by the Licensee to sale and distribute the ITV-1 therapeutic in the Licensed Territory. In addition, the Licensing Entity will invest $2 Million USD in the Company in exchange for Company Preferred Series E stock bringing to the Company $3 Million in cash plus a 50% ownership in the Licensing Entity. This agreement will result in establishing a committed partner for sale and distribution of the Company's ITV-1 therapeutic in the Licensed Territory as well as 50% ownership in Licensee and its profit derived from sales in the Licensed Territory.
Charles Cotropia, CEO, stated, "This is yet another milestone in our Company's progress toward producing revenue from our technology and the therapeutics produced from it. We gratefully acknowledge Harry Zhabilov's years of commitment to the Company that are making possible the partnerships and agreements now being finalized. As a result of his efforts, we have another European transaction which we expect to consummate and report in the coming week. Just as important as the investments being made into the Company are the partners and licensees being engaged - all individuals who have strategic contacts within the countries in which they will be distributing our therapeutics. These strategic contacts and their familiarity with geographic areas being served is as significant as any aspect of the arrangements we are completing."
"For many years, we have been developing and strengthening the relationships that are now leading to our current significant partnerships. With the advances the Company is making toward preparation for and completion of clinical trials in Europe, which will lead to approval from the EMA, we are meeting our goal of bring our technology to those in need", said Harry Zhabilov, CSO.
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