Immune Therapeutics, Inc. Announces Cytocom Conference Call
October 27 2020 - 01:14PM
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
Tickers: IMUN, CBLI, SBFM, SFOR
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