Marizyme, Inc., Acquires Protease Drug Platform and Appoints New CEO
FORT COLLINS, Colo., Sept. 27, 2018 /PRNewswire/ -- Marizyme, Inc. ("Marizyme" or the "Company"), a publicly traded (OTC :MRZM ) company focusing on acquiring late-stage drug assets for use in the acute care space for development and commercialization, announced today that they have acquired their first drug assets. Marizyme completed an Asset Purchase Agreement for a novel protease drug platform that has had extensive clinical testing in Europe. This protease platform is a novel combination of enzymes first isolated and developed by Pharmacia Corporation in Sweden. It has been tested in over 551 patients and has demonstrated safety and efficacy for multiple indications including wound healing, thrombogenic disease and anti-viral applications.
MB101, the Company's first product candidate based on this protease platform, is a patented, first-of-its-kind localized enzymatic therapy that is initially being developed for use as a therapy for wound debridement and healing. It has been successfully tested in Europe in 13 clinical trials involving 551 patients. The Company will be filing a Pre-IND with the Food & Drug Administration to request that MB101 can be used in a Phase IIb/III clinical study.
The Company's second product candidate based on this platform, MB102, is a novel and patented formulation of endovascularly delivered proteases that have demonstrated the capability to quickly and safely remove clots causing ischemic blockages in human vasculature. The first indication will be ischemic stroke in pediatrics as there are currently no approved thrombolytic therapies approved for use in children suffering from ischemic stroke.
In addition to acquiring the protease drug platform, Marizyme has hired a successful pharmaceutical professional to run the Company. Mr. Michael K. Handley has been hired as the Chief Executive Officer and Board member and will replace Mr. Nick DeVito. The Company is very grateful to Mr. DeVito for all of his efforts to position the Company for success. Mr. Handley brings over twenty years of pharmaceutical and device development and commercialization knowledge. He has led or assisted in the development multiple products to market for combined annual sales of over $3 billion dollars.
Mr. Handley, commented, "It is an honor to lead this Company into its next chapter of its growth. I am excited about the opportunity to develop one of the world-leading acute care focused companies and improve and save lives of patients who are afflicted from thrombogenic disease, infections or pain."
About Marizyme, Inc.
Marizyme, Inc. is a development-stage company dedicated to the commercialization of therapies that address the urgent need of higher mortality and costs in the acute care space. Specifically, Marizyme will focus its efforts on developing treatments for disease caused by thrombus (stroke, acute myocardial infarctions or AMI's and deep vein thrombosis or DVT's), infections and pain/neurological conditions. These conditions combine for over $95 billion dollars in potential market opportunity and are responsible for sending over 10 million patients to the hospital every year in the U.S. alone.
The Company's first products candidates are derived from a broad intellectual property portfolio around a novel system of proteolytic enzymes called ProteomeX™ (previously referred to as Krillase™ Technology). Marizyme completed the acquisition of these assets and intends to immediately develop several product candidates that will address unmet medical needs in the acute care setting. For more information about the Company, visit www.marizyme.com.
This press release contains certain forward-looking statements, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. The Company has made every reasonable effort to ensure the information and assumptions on which these statements are based are current, reasonable and complete. However, a variety of factors, many of which are beyond the Company's control, affect the Company's operations, performance, business strategy and results and there can be no assurances that the Company's actual results will not differ materially from those indicated herein. Additional written and oral forward-looking statements may be made by the Company from time to time. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.