Item 1.01 Entry into a Material Definitive Agreement.
Joint Ventures to Research COVID-19 Treatment
In April 2020, we signed a joint venture agreement with two other companies to pursue the funding and research and development on our patented extracorporeal therapy for the safe removal of targeted antigens from the blood and targeted organs. In the case of COVID-19, this entails removal of specific compounds which allow the virus to replicate, which may eliminate mutations of the virus. In preparation for the joint venture, we filed a new provisional patent entitled “Method for Treating and Curing COVID-19 Infection.” Following the start of the joint venture, we filed another provisional patent entitled “Method for Treating Covid-19 Inflammatory Cytokine Storm for the Reduction of Morbidity and Mortality in Covid-19 Patients”. It is too early to tell whether these technologies will have any practical application.
On May 12, 2020, we assigned our rights in these two patents to Technology Health, Inc. pursuant to an Intellectual Property Agreement in hopes that they will be able to finance and develop the technologies. The assignment is part of an agreement with Technology Health, Inc., and two other companies to pursue a novel coronavirus extracorporeal treatment which combines our antigen mapping technique with Datatecnics’ laser ablation technology in a focused “Map and ZapTM” treatment protocol disclosed in a provisional patent application that is intended to eliminate COVID-19 antigens and potential mutations. Research is expected to start in the second quarter of 2020 to develop complexing agents to bind with coronavirus antigens which can be illuminated and eliminated using a computer-controlled targeting and laser system. The proposed hospital/clinic process would illuminate the compounded molecular target disease antigens for destruction by a nano-focus laser, and the purified blood would then be returned to the patient.
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