Immune
Therapeutics Acquires 10%
Stake in
Cytocom; Obtains Exclusive
Rights
to Lodonal
for Pets in United
States
Orlando, FL --
June
05, 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 with its partner
Fidson Healthcare Plc 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/