$BOOM $MRZM Signs LOI With Chromocell to Acquire or License Assets
*PR was released after hours around 5pm EST 3/18/19
FORT COLLINS, Colo., March 18, 2019 (Newswire.com) – 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 and related areas, announced today that they signed a Letter of Intent to evaluate the licensing or acquisition of certain non-opiate pain relief and rare disease assets from Chromocell Corporation (“Chromocell”), pending further due diligence from both companies.
Mr. James Sapirstein, Executive Chairman of Marizyme, Inc., commented: “This opportunity is a perfect fit with Marizyme’s strategic direction. We are very pleased to work with Chromocell and proceed with the due diligence process.”
The treatment of acute and chronic pain remains a significant challenge, due to insufficient efficacy, negative side effects and abuse potential of currently available therapeutics. Chromocell’s discovery and development programs are focused on the development of breakthrough therapeutics for neuropathic and nociceptive pain. Chromocell’s lead candidate CC8464 has completed Phase 1 clinical trials in the United States.
Mr. Christian Kopfli, Chief Executive Officer of Chromocell, Inc. said: “Evaluating a partnership with Marizyme to bring our products to market is an exciting development for our company. Non-opiate analgesics are critical for treating patients with acute and chronic 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 AMIs and deep vein thrombosis or DVTs), and chronic wound care conditions. These conditions combine for over $26 billion dollars in potential market opportunity and are responsible for sending over millions of patients to the hospital every year in the U.S. alone.
The Company’s first product candidates are derived from Krillase™ Technology, a broad intellectual property portfolio around a novel system of proteolytic enzymes. Marizyme completed the acquisition of these assets and intends to 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.
