Immune
Therapeutics Acquires 10%
Stake in
Cytocom; Obtains Exclusive
Rights
to Lodonal for
Pets in United
States
ORLANDO,FL -- June
5, 2018 -- InvestorsHub NewsWire -- Immune Therapeutics, Inc.
(OTCQB:IMUN)
("Immune," "IMUN" or the "Company"), a clinical late stage
biopharmaceutical company focused on the development of two
immunomodulating therapies for the treatment of autoimmune
diseases, inflammatory diseases, cancer and HIV/AIDS is pleased to
announce a modification of the Company's 2014 exclusive licensing
agreement with Cytocom, Inc., a late stage biotechnology company
that specializes in T-Cell activation
immunotherapies.
In addition to the rights
granted in the 2014 agreement to make products containing Lodonal
and Met-Enkelphline in Africa, Central America, South American and
the Caribbean and to market and distribute the same for human use
in certain emerging markets, the newly amended and restated license
agreement also grants the Company the exclusive marketing and
distribution rights for products containing Lodonal and
Met-Enkelphline for treatment of animals in the United
States.
According to Global
Industry Analysts, Inc., the global market for animal medication is
projected to reach US $44.4 billion by 2022, driven by increasing
investments in animal drug development in response to unmet animal
health needs and developments in veterinary diagnostics and
services. The Company is developing its strategy to capture a
portion of this market.
The Company's CEO, Noreen
Griffin, stated that: "We are confident in our ability to fast
track our development program for companion animals in several
qualified OMUMS (The Office of Minor Use and Minor Species)
indications. Once approved, the company will receive seven years of
exclusive marketing rights, which means we should face no
competition from another sponsor marketing the same drug in the
same dosage form for the same intended use for that time
frame."
The amended and restated
license agreement was entered in conjunction with a stock purchase
agreement where the Company agreed to acquire 10% of Cytocom's
issued and outstanding common stock in exchange for cancelation of
approximately $4,100,000 of debt owed by Cytocom to the Company.
Under the original spin-out of Cytocom from the Company, IMUN was
required to return all Cytocom shares to Treasury upon the funding
of Cytocom, leaving them with no ownership in Cytocom. The
Company's Board, after due discussions and review of Cytocom's
potential, decided to make the investment. The acquisition
solidifies the new direction of the strategic alliance between the
Company and Cytocom.
Corporate
Update
The Company has retained
the services of a Ruderfer & Associates, Inc. Verona, NJ 07044
to assist with the search for a new CEO so that Noreen Griffin can
be released to serve Cytocom and help grow the value of the
Company's investment in Cytocom.
The Company has filed two
new patents in the last 30 days. At this time, the Company has now
filed six patents pending applications in the last 18 months. The
newest two patents include the use of Lodonal as a combination
therapy for inflammation, autoimmune disease and cancer in both
humans and animals, as well as use of Met-Enkelphline as a
combination immunotherapy in the treatment of
cancer.
The Company continues to
work with the Pharmacy and Poison Board in Kenya and will update
shareholders as soon as the Company receives additional
information.
The Company is moving
forward in Nigeria with implementing launch of a marketing program
without a partner and is hopeful that the initiative will result in
sales in the coming months following the
initiative.
ABOUT
IMMUNE THERAPEUTICS, INC.
Immune Therapeutics Inc.
is a late stage clinical stage biopharmaceutical company focused on
the development and commercialization of our highly innovative
immunotherapies. IMUN is a biotechnology company developing
T-Activation immunotherapies to achieve immunomodulation in
patients with autoimmune and inflammatory disease and cancer and
infectious diseases.
Stimulating the body's
immune system remains one of the most promising approaches in the
treatment of Cancers, HIV, Autoimmune Diseases, inflammatory
conditions and other chronic infectious diseases.
Forward-Looking
Statements
This release may contain
forward-looking statements. Actual results may differ from those
projected due to a number of risks and uncertainties, including,
but not limited to, the possibility that some or all the matters
and transactions considered by the Company may not proceed as
contemplated, and by all other matters specified in the Company's
filings with the Securities and Exchange Commission. These
statements are made based upon current expectations that are
subject to risk and uncertainty. The Company does not undertake to
update forward-looking statements in this news release to reflect
actual results, changes in assumptions or changes in other factors
affecting such forward-looking information. Assumptions and other
information that could cause results to differ from those set forth
in the forward-looking information can be found in the Company's
filings with the Securities and Exchange Commission (www.sec.gov),
including its recent periodic reports.
CONTACT:
888-613-8802
http://www.immunetherapeutics.com/