Breathtec Biomedical Inc. (CSE: BTH) (CNSX: BTH)
(FRANKFURT: BTI) (OTCQB: BTHCF) (the “Company”) is
pleased to announce that it will be opening a new drug development
division and has signed a Letter of Intent (“LOI”) to acquire 100%
of the shares of Nash Pharmaceuticals Inc. (“Nash Pharma”). Nash
Pharma is a clinical stage pharmaceutical development company
focused on drug repurposing in the areas of non-alcoholic
steatohepatitis (NASH), chronic kidney disease (CKD) and
inflammatory bowel disease (IBD). Through its ongoing research
programs, Nash Pharma has developed data that supports the
advancement of up to 7 drug candidates into phase II trials.
Pursuant to the LOI, the Company will enter into
a definitive agreement whereby the Company, prior to the closing of
the transaction, will complete a consolidation of its securities on
a 2-to-1 basis. This will result in the Company having
28,682,012 common shares, 6,005,833 outstanding warrants and
2,147,500 outstanding options. Further, the Company will
acquire all of the issued and outstanding common shares of Nash
Pharma in consideration for the issuance by the Company of
15,800,000 common shares of the Company and will issue an
additional 14,800,000 warrants at a price equal to the exercise
price of the Nash Pharma warrants.
Concurrent with the transaction, the Company
anticipates that it will complete a private placement financing of
its securities to arm’s length parties for aggregate gross proceeds
of up to CDN$1,000,000, at a price per security to be determined
based on the context of the market, with such proceeds to be
allocated towards funding development of the business division of
Nash Pharma.
The Company is committed to and will continue to
advance the research and development program for its FAIMS
technology and will be providing an update to the market on its
progress shortly.
About Nash Pharmaceuticals
Inc.
Nash Pharma is a Canadian based, privately held
drug development company focusing on developing repurposed
therapeutic drugs. Drug repurposing (also known
as re-profiling, re-tasking or therapeutic switching) is the
application of approved drugs and compounds to treat
a different disease than what it originally developed for. Nash
Pharma’s business model seeks to minimize investment and drug
development risk by taking advantage of regulatory approved drugs
and discovering alternative clinical uses by accelerating entry
into phase II clinical trials (humans).
The benefit of this approach to
drug development is that if promising data is generated
from early animal model research, the drug can often be moved
immediately into phase II studies without having the costs and
risks associated with preclinical work. The preclinical work phase
is the highest risk phase of drug development and can
take up to 8 years to complete. A phase II study provides
the greatest opportunity for significant value creation for a
drug development company.
Nash Pharma, under the scientific and research
leadership of Dr. Mark Williams, PhD MBA has been focusing its
research on the following three areas:
- Non–Alcoholic Steatohepatitis (“NASH”)
NASH is a serious condition in which fat
accumulates in liver tissue in people who consume little or no
alcohol. It is the most severe form of non-alcoholic fatty
liver disease (“NAFLD”), which in some individuals can progress to
fibrosis (scarring) and ultimately hepatocellular carcinoma (liver
cancer).
Market Opportunity
According to a new report published by Allied
Market Research, “Global Opportunity Analysis and Industry
Forecast, 20212025," the global NASH market was valued at $1.17
Billion in 2017, and is expected to reach $21.4 Billion by 2025,
growing at a CAGR of 58.4% from 2021 to 2025.
Nash Pharma Technology
Nash Pharma has identified up to two potential
compounds, which statistically significantly reduced the NAFLD
score in an industry standard animal model of NASH by at least 2
points.
- Chronic Kidney Disease (“CKD”)
CKD is a condition in which the kidneys are
damaged or cannot filter blood as well as healthy kidneys, often as
a result of fibrosis. Because of this, excess fluid and waste from
the blood remain in the body and may cause other health problems.
30 million people or 15% of US adults are estimated to have
CKD.
Market Opportunity
The global market for CKD drugs continues to
proliferate at a significant pace, driven by the increasing number
of CKD patients and the growing need of novel treatments to improve
patients’ quality of life. The global CKD drug market stood
at US$11.5 Billion in 2015. Burgeoning at a CAGR of 3.60% between
2016 and 2024, the market’s opportunity is expected to reach
US$15.8 Billion by the end of 2024.
Nash Pharma Technology
Nash Pharma has identified up to three drug
candidates that when tested in an industry standard mouse model of
kidney fibrosis, statistically significantly reduced fibrosis
scores to equivalent levels to Telmisartan, a known anti-fibrotic
compound.
- Inflammatory Bowel Disease
(IBD)
Inflammatory bowel disease (IBD) is an umbrella term used to
describe disorders that involve chronic inflammation of the
digestive tract. This condition causes long-lasting inflammation
and sores (ulcers) in the innermost lining of the large intestine
(colon) and rectum.
Market Opportunity
The global IBD treatment market is valued at US$10.52
Billion in 2016. Rising at a steady 2.6% CAGR between 2017 and
2025, the market is likely to be valued at US$14.8
Billion by the end of 2025. In 2016, North
America led the global IBD market, which is attributable to
the rising incidence of the disease witnessed among men and women
alike in the region. The incidence of ulcerative colitis and
crohn's disease is high in US and Canada, which fuels the
demand for IBD treatment in North America.
Nash Pharma Technology
Nash Pharma has identified two potential
compounds that statistically significantly improved multiple
disease related endpoints in an ulcerative colitis model compared
to untreated animals. Both candidates appeared as effective as the
known approved front-line therapy, 5-amino salicylic acid (5-ASA)
in reducing disease severity.
For more information please visit:
www.nashpharmaceuticals.com
ABOUT BREATHTEC BIOMEDICAL
INC. Breathtec Biomedical, Inc. (“Breathtec”) was
formed to propel innovative research in the area of airborne
analysis as a medical screening tool. Our efforts are aimed at
leading the development of commercially viable methods for the
early screening of certain pathogens. Our primary avenue of
investigation is focused on innovation and advances in the field of
specialized mass spectrometry. For more information,
visit www.breathtecbiomedical.com.
CONTACT INFORMATION
Christopher J. Moreau CEOBreathtec BioMedical Inc.604.398.4175
ext 701info@breathtechbiomedical.com
investors@breathtecbiomedical.com www.breathtecbiomedical.com
CAUTIONARY DISCLAIMER STATEMENT: No Securities
Exchange has reviewed nor accepts responsibility for the adequacy
or accuracy of the content of this news release. This news release
contains forward-looking statements relating to product
development, licensing, commercialization and regulatory compliance
issues and other statements that are not historical facts.
Forward-looking statements are often identified by terms such as
“will”, “may”, “should”, “anticipate”, “expects” and similar
expressions. All statements other than statements of historical
fact, included in this release are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company’s expectations include the
failure to satisfy the conditions of the relevant securities
exchange(s) and other risks detailed from time to time in the
filings made by the Company with securities regulations. The reader
is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from
those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the
control of the Company. The reader is cautioned not to place undue
reliance on any forward-looking information. Such information,
although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may
differ materially from those anticipated. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement. The forward-looking statements
contained in this news release are made as of the date of this news
release and the Company will update or revise publicly any of the
included forward-looking statements as expressly required by
applicable law.
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