Drug development company focused on commercialising its multiple proprietary therapeutics, Enzolytics (OTCMKTS:ENZC) on July 20, 2021 announced signing of Letter of Intent with Creative Biolabs for completion of joint production and commercialization of HTLV-1 monoclonal antibodies. The two companies will combine their technologies and currently no antiviral drugs are there for treating infections caused by the virus.
Enzolytics’ proprietary Artificial Intelligence methodology will identify immutable target sites and the firm will produce targeted anti-HTLV-1 monoclonal antibodies at its Texas A&M University’s Institute for Preclinical Studies lab. On the other hand, Creative will test effectiveness and neutralising ability of the drug as well as mass produce for marketing and distribution.
Enzolyticsknows that Creative is an important partner in the effort as the company produces and supplies products and services for early drug discovery and development. Creative would be bearing the cost of production and sale of the drug and a part of the percentage from the profit will be shared.
Charles Cotropia, CEO of Enzolytics, said that the firm has a comprehensive platform for production of multiple targeted monoclonal antibodies against myriad infectious disease and the approach will pave way for new and durable therapies for treating large number of infectious diseases.
He added that the firm has finished process of identifying conserved sites for Coronavirus (SARS-CoV-2), HIV,HTLV-1, Influenza-A and Influenza-B.
Market Reaction:
On Tuesday, ENZC stock fell 5.83% to $0.19 with more than 24.66 million shares, compared to its average volume of 28.92 million shares. The stock had moved within a range of $0.1550 – 0.2080 after opening the trade at $0.20. Over the past 52-week, the stock has been trading within a range of $ 0.0003 – 0.9580
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