The Patents, IP and licensing for IPF, ITV, and mAbs are part of Virogentics and Biogenysis, which are to become SAGA's wholly owned subsidiaries if the proposed transaction is completed. Under SAGA, Gaurav Chandra, Charles Cotropia, Joseph Cotropia, Suraj Saggar, and Kirsten Bischof would all have new roles in the subsidiaries, and Harry would assumedly continue his role as CSO of Virogentics. ENZC's latest disclosure says that there will eventually be a dividend to ENZC shareholders, then "there would be no assets or operations in Company E".
Below is the DD, straight from the source, if you would like it.
Virogentics, a subsidiary of Enzolytics, is the exclusive licensee for ITV-1 and the exclusive licensee in the U.S. and most world countries of IPF Immune.
On November 30, 2020, the Company consummated the Merger Agreement which involved the formation of two wholly-owned operating subsidiaries, Biogenysis, Inc., (“Biogenysis) and Virogentics, Inc., (“Virogentics”). Biogenysis was formed to acquire the intellectual property rights of and license owned by certain officers of BioClonetics Immunotherapeutics, Inc., (“BioClonetics”) and Virogentics which was formed to acquire the intellectual property rights of and licensed owned by a controlling stockholder of Enzolytics.
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Following the business combination, the Company issued 204,430,000 shares of its Series B Convertible Preferred Stock to officers of BioClonetics who owned the intellectual property rights to the U.S. Provisional Patent Application No. 63/078,482, filed September 15, 2020, relating to NOVEL HIV- BINDING PEPTIDES for treating, preventing and reducing the risks of HIV, including all patents issuing therefrom and any foreign counterparts thereof. In addition, the Company issued 90,750,000 shares of its Series B Convertible Preferred Stock to the controlling stockholder of Enzolytics who owned the intellectual property rights to U.S. Patent No. 7,479538, entitled Irreversibly- Inactivated pepsinogen fragment and Pharmaceutical composition the same for detecting preventing and treating HIV and U.S. Patent No. 8,066982, Irreversibly - Inactivated pepsinogen fragment and Pharmaceutical composition compressing the same for detecting preventing and treating HIV, including all patents issuing therefrom and any foreign counterparts thereof.
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Effective December 1, 2020, the Company, through Bioclonetics, entered a lease with Texas A & M University for office and laboratory space on the campus of Texas A&M University in the University's Institute for Preclinical Studies in order to expand the Company’s development capabilities for the production of additional monoclonal antibodies.
Enzolytics, Inc. (OTC PINK: ENZC) (“ENZC” or “the “Company”) recently entered into a nonbinding letter of intent with Sagaliam Acquisition Corp. (“NASDAQ: SAGA”) (“SAGA”) (together the “Parties”) to sale its two operating subsidiaries Biogenysis, Inc. (“BGEN”) and Virogentics, Inc. (“VIRO”)
After the dividend to Company E shareholders, there would be no assets or operations in Company E, but management would be able to purchase new operations or develop other products that would be the assets of Company E. The Company E common shares would continue to trade on OTC Markets as a new business strategy is implemented.
Dr. Gaurav Chandra has been appointed the Chief Executive Officer and Chairman of Biogenysis.
Mr. Cotropia will continue as the Executive Director of Biogenysis [...]
Dr. Joseph Cotropia will assume the Chief Scientific Officer position of Biogenysis [...]
Dr. Suraj Saggar will be an Advisory Board Member of Biogenysis [...]
Dr. Kirsten Bischof will continue to develop the AI platform as an Advisory Board Member. In addition, as the AI platform is expanded, Dr. Bischof will serve as the Chief Information Officer [...]
