Immune Therapeutics, Inc. Announces Cytocom Conference Call
October 27 2020 - 2:13PM
InvestorsHub NewsWire
October 27, 2020 -- InvestorsHub NewsWire -- via
Stock Investor Wire -- Cytocom will host a conference call
and live audio webcast at 8:00 a.m. EDT on October 28th to
discuss the merger with Cleveland BioLabs (NASDAQ:
CBLI) and provide a strategic vision for the combined company.
To access the conference call supported with slides, please dial
646-558-8656 with the meeting ID: 841 7826 2704 and
passcode: 281020. The conference call can also be accessed
at https://cleartrustonline.com/cytocom. Approximately
two hours following the live event, a webcast replay of the
conference call will be available on Cytocom’s website
https://www.cytocom.com/investors/ for
approximately 30 days.
Recently, Immune Therapeutics, Inc. (Ticker:
IMUN) announced the signing of a definitive merger agreement
between Cytocom and Cleveland BioLabs with the merger set to create
a single public company focused on the development and
commercialization of immunotherapies for oncology, infectious
disease, inflammation and auto-immune mediated
conditions.
Cytocom shareholders will have a majority
position in the newly combined entity, which the parties anticipate
will continue to be listed on the Nasdaq under the ticker symbol:
CBLI, and the initial Board of Directors for the combined
company will consist of four members selected by Cytocom and three
members selected by Cleveland BioLabs. The Boards of Directors of
both companies have approved the
combination.
For Immune Therapeutics, Inc. (Ticker:
IMUN) and its shareholders who hold a considerable stake in
Cytocom this means that the value for all of the years of support
and collaboration with Cytocom can be realized. The
Cytocom platform technologies and product pipeline, in combination
with Cleveland BioLabs, have the potential to drive significant
future growth in Immune’s shareholder
value.
Each party to the proposed merger believes that
the combined company will create near-term commercial opportunities
in numerous areas of significant unmet medical needs including
acute radiation injury, oncology, infectious disease, inflammation
and autoimmune-mediated conditions, with multiple commercial,
regulatory and clinical milestones expected over the next 12 to 18
months. Operating as “Cytocom, Inc.” and under the leadership of
Cytocom’s experienced management team, the combined company will be
positioned for consistent growth.
Overview
Michael K. Handley, President and Chief
Executive Officer of Cytocom, stated, “Our merger with Cleveland
BioLabs and its subsequent immune-focused platform will be a
transformative growth opportunity for Cytocom and Cleveland BioLabs
shareholders. We believe that the combination of these highly
complementary late-stage pipelines will strengthen our position and
advance our efforts to unlock the potential of immune-modulating
agents in the treatment of serious medical conditions. Further,
this merger will enhance our ability to become a recognized leader
in immune-modulating treatments and builds on the momentum created
by our recent acquisition of ImQuest Life Sciences. We plan to
utilize the combined platform to further drive value with
additional clinical and commercial products and continue to seek
strategic partnerships and acquisitions.”
Dr. Andrei Gudkov, Chief Scientific Officer of
Cleveland BioLabs, said: “This is an exciting day for Cleveland
BioLabs and a great opportunity for our stockholders. The merger
with Cytocom will allow us to add the strength of our science and
bright perspectives associated with Entolimod development in cancer
treatment and radiation defense arenas with a string of
immunomodulators developed by Cytocom to form a powerful blend of
conceptually and scientifically aligned products. We believe that
the merger with Cytocom is the ideal way to unlock the value of our
technology platform and our lead drug candidate, Entolimod, and I
look forward to seeing this exciting new therapy advance through
the clinic.”
Conditions
The proposed transaction is subject to customary
closing conditions, including approval by the stockholders of
Cleveland Biolabs, the shares of the combined company being
approved for listing on Nasdaq and a registration statement under
the Securities Act becoming effective. Cytocom and Cleveland
Biolabs expect the transaction to close during the first quarter of
2021.
About Cytocom
Cytocom, Inc. is a clinical-stage
biopharmaceutical company developing novel immunotherapies
targeting autoimmune, inflammatory, infectious diseases and cancers
based on a proprietary platform designed to rebalance the body’s
immune system and restore homeostasis. Cytocom is developing
therapies designed to elicit directly within patients a robust and
durable response of antigen-specific killer T cells and antibodies,
thereby activating essential immune defenses against autoimmune,
inflammatory, infectious diseases, and cancers. Specifically,
Cytocom has four programs in late-stage clinical development in
Crohn’s disease, Fibromyalgia, Multiple Sclerosis and Pancreatic
Cancer. Cytocom believes that its technologies can meaningfully
leverage the human immune system for prophylactic and therapeutic
purposes by eliciting killer T cell response levels not achieved by
other published immunotherapy approaches. Cytocom’s
immunomodulatory technology restores the balance between the
cellular (Th1) and the humoral (Th2) immune systems. Immune balance
is regulated through T-helper cells that produce cytokines. The Th1
lymphocytes help fight pathogens within cells like cancer and
viruses through interferon-gamma and macrophages. The Th2
lymphocytes target external pathogens like cytotoxic parasites,
allergens, toxins through the activation of B-cells and antibody
production to effect to dendritic cells, which are natural
activators of killer T cells, also known as cytotoxic T cells, or
CD8+ T cells. Furthermore, the Cytocom technology antagonizes the
Toll-like Receptors to inhibit pro-inflammatory cytokines. To learn
more about Cytocom, Inc., please visit
www.cytocom.com
About Cleveland BioLabs
Cleveland BioLabs, Inc. is an innovative
biopharmaceutical company developing novel approaches to activate
the immune system and address serious medical needs. Cleveland
BioLabs’ proprietary platform of Toll-like immune receptor
activators addresses conditions such as radiation sickness and
cancer treatment side effects. Cleveland Biolabs’ most advanced
product candidate, Entolimod is being developed as a medical
radiation countermeasure for preventing death from acute radiation
syndrome and, through its joint venture with Everon Biosciences,
LLC – Genome Protection, Inc. – for other anticancer and antiaging
indications. Additionally, Cleveland BioLabs also conducts business
in the Russian Federation through a joint venture with Joint Stock
Company RUSNANO, Panacela Labs, Inc. Cleveland BioLabs maintains
strategic relationships with the Cleveland Clinic and Roswell Park
Cancer Institute. To learn more about Cleveland BioLabs, please
visit http://www.cbiolabs.com
Other tickers mentioned are
SBFM and
SFOR.
SOURCE: Stock Investor
Wire