Enzolytics, Inc.

Updates on ETC Marketing, Inc and Ownership of ITV-1 and IPF ALLEN, TX / ACCESSWIRE / May 22, 2024 / Enzolytics, Inc. (OTC PINK:ENZC) ("enzolytics.com")(the "Company") announced today that it has entered into a Letter of Intent with Enogenesis (ENGN) for the specific use of the therapeutic application of ENGN's patented Nitric Oxide Compound ( "NOC"). The initial focus for sales will be combining NOC with the nutraceutical products of the wholly owned subsidiary of Sagaliam Acquisition, Corp ("SAGA"), Virogentics Inc's ("VIRO"). The current products include IPF Immune, brain detox, liver detox and a new weight loss compound. The NOC patented compound can be produced in a liquid, solid or spray which can be included in the drops, pill or spray form currently being produced by VIRO. In addition, VIRO is the exclusive licensee of the patents on ITV-1, owned by Zhabilov Trust and invented and patented solely by Harry Zhabilov Jr. ITV-1 is beginning the pharmacokinetics investigation stage for future permitting in Europe with the European Medicine Agency (EMA) which the Company believes will be an additional market for NOC. The discovery of nitric oxide's role as a signaling molecule in the cardiovascular system led to the 1998 Nobel Prize in Physiology or Medicine. The groundbreaking work by Robert F. Furchgott, Louis J. Ignarro, and Ferid Murad revealed how nitric oxide regulates blood vessels, influencing blood pressure and overall health. Their research spanned several decades, culminating in this prestigious recognition. It was named the "Molecule of the Year" in 1992 by the Journal of Science. Nitric oxide is a diatomic molecule in gaseous form. It is highly active, and its short half-life makes it difficult to convert it into other states than its gaseous form. Historically, a standard of care treatment for COPD has been the application of NOC in its gaseous form in a hospital setting, at a cost of over $7,000 per patient application. Enogenesis has patented the application of technology to enable the use of NOC in standalone and combination therapies at a low-cost in prescribed, over the counter and nutraceutical compounds with a long shelf life. One of the initial licensed applications will be for diabetes, where ENZC and ENGN will work to use NOC with Metformin. The Company believes the addition of NOC will significantly lower the gastro intestinal adverse effects (lactose acidosis) associated with the use of Metformin and other anti-diabetic drugs containing Metformin by increasing the effectiveness of the delivery allowing lower doses to be administered. The Company will also license the topical NOC cream for application to diabetic neuropathy. It is anticipated that Enzolytics will be able to bring the NOC Metformin to market quickly. The Enogenesis technology allows for oral delivery of the combination of NOC with Metformin, and topical cream formulation of NOC with Metformin for Neuropathy. These products are formulated for timed release to deliver efficacy in prescribed dosage and timed Metformin delivery. NOC formulation with Metformin is a direct delivery that improves on the bioavailability of the current products on the market, and significantly reduces the quantity of Metformin needed. According to Statistica, Metformin is primarily used for the treatment of type 2 diabetes, and in 2020 and 2021, the annual number of prescriptions in the U.S. exceeded 90 million. Robert Kremer, the President of Enogenesis commented, "Our team has devoted decades to exploring the development of commercial technology for delivering low-cost therapies incorporating NOC. The Metformin application is one of the most widely used prescription therapies for diabetes. We are excited about the opportunity to partner with Enzolytics on both the commercialization of the NOC Metformin application, as well as using our technology to accelerate the commercialization of Enzolytics and Virogentics' portfolio of current and future products. The NOC technology application is a versatile and highly innovative solution for the health industry that has the potential to address many markets." Dr. Mahantesh Navati, the Chief Scientific Officer of Enogenesis, commented, "We have developed a unique combination drug therapy with nitric oxide that leads to many biomedical applications. The NOC technology can enhance the effectiveness of many drugs currently on the market, opening a vast field for licensing and sales opportunities, especially in brain diseases based on nitric oxide's ability to cross the blood brain barrier." Steve Sharabura, Interim CEO of Enzolytics, commented: "This agreement with Enogenesis is exciting. It's a cutting-edge technology. This fits nicely with our existing expertise, and is the basis for Enzolytics' further technological expansion." Harry Zhabilov, the Chief Scientific Officer of Enzolytics and Sagaliam commented, "The NOC technologically is a powerful compound to improve the effectiveness and bioavailability of other therapies. We believe that applying the Enogenesis technology to Virogentics' pharmaceutical and nutraceutical products will greatly accelerate our ability to commercialize our products. I would like to assure the shareholders of SAGA, the majority of which are Enzolytics shareholders, that all the misleading information currently being stated about ownership of my patents and the exclusive licensing of the patents to Virogentics will be vigorously protected. " Marketing will be managed through ETC Marketing, the recently announced venture formed by ENZC, focusing on licensing of products in the medical devices, nutraceuticals, medical testing and other wellbeing and safety product markets. As part of the relationship with ETC Marketing, SAGA is expanding its product categories from nutraceuticals, to also partnerships in the distribution of consumer medical devices and home tests for multiple indications. To fund this opportunity, SAGA is in the final stages for an award of a $25 million grant from an organization based in Tokyo, Japan with a mission to sponsor promising technologies and businesses focused on making significant global contributions to healthcare, science, technology and education. About Enzolytics, Inc. Enzolytics, Inc. is transitioning from a drug development company committed to commercializing its proprietary proteins and monoclonal antibodies to treat debilitating infectious diseases to a sales, marketing and distribution entity focusing on medical devices, medical testing and nutraceutical products. About Enogenesis Enogenesis LLC is a unique applied technology-based specialty pharmaceutical company. Enogenesis' scientists are focused on delivering Nitric Oxide and our partner's molecule utilizing the Combination Drug Delivery Platform™ (CDDP) with enhanced therapeutic drug effects for patients. Enogenesis' development team has written over 30 papers on nitric oxide and has over 30 years of collective experience in nitric oxide research before developing the technology over the last four years. Enogenesis was formed in 2020 by Robert Kremer and Mahantesh Navati to develop the next generation of nitric oxide ("NO") combination therapy for more efficient NO production and delivery. Enogenesis' Drug Delivery Platform™ of Nitric Oxide is INONOx™, which has been developed in its New York City laboratory. Additional information on Enogenesis is available at: Forward Looking Statements The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations, Company's ability to enter into a definitive business combination agreement and Company's ability to obtain the financing necessary to consummate the potential business combination transaction. These statements are based on various assumptions and on the current expectations of Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Company. These forward-looking statements are subject to a number of risks and uncertainties, including: Company's ability to enter into a definitive agreement with respect to the proposed business combination or consummate a transaction; the risk that the approval of the stockholders of Company for the potential transaction is not obtained; failure to realize the anticipated benefits of the potential transaction, including as a result of a delay in consummating the potential transaction or difficulty in integrating the businesses of Company; the amount of redemption requests made by Company's stockholders and the amount of funds remaining in Company's trust account after satisfaction of such requests; those factors discussed in Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 under the heading "Risk Factors," and other documents of Company or to be with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Company presently does not know or that Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Company's expectations, plans or forecasts of future events and views as of the date hereof. Company anticipates that subsequent events and developments will cause Company's assessments to change. However, while Company may elect to update these forward-looking statements at some point in the future, Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Company's assessments as of any date subsequent to the date of this disclosure statement. Accordingly, undue reliance should not be placed upon the forward-looking statements. CONTACT INFORMATION Enzolytics, Inc. Steve Sharabura, Chief Executive Officer 3002 Royal Palm Baytown, Texas 77523 Tel: (845) 925-4597 X/Twitter: @EnzolyticsInc SOURCE: Enzolytics, Inc. View the original press release on accesswire.com

Board Appoints Officers ALLEN, Texas, March 25, 2024 /PRNewswire/ -- Enzolytics, Inc. (OTC PINK:ENZC) ("). Enzolytics, Inc. (the "Company") On March 19th, 2024, a Special Meeting of the Shareholders of ENZC of which a quorum was present representing over 51% of the voting right of the company was held and new board of directors was elected. This new board consists of Harry Zhabilov, Chairman of the Board; Dr. Lachezar Ivanov, and Dr. Gaurav Chandra. Dr. Ivanov and Harry Zhabilov have accepted their position as director, as of this date, Dr. Chandra has not. Immediately following this Special Shareholder Meeting, the New Board of Directors were noticed by Harry Zhabilov of a Special Called Meeting of the Board of Directors, which was held March 21, 2024 and a quorum was present. The new officers of the corporation were elected. The new executive officers appointed by the Board of Directors are Steven Sharabura – Chief Executive Officer, Diana Zhabilov – Chief Financial Officer, and Harry Zhabilov – Chief Science Officer. Dr Gaurav Chandra was duly noticed and nominated as an officer but declined the position of CEO. Dr. Chandra remains a director of the Company. Steve Sharabura stated, "I am working with the board to formulate a new business strategy and identify acquisition targets. The Company will release additional information on our progress in the coming weeks." Safe Harbor Statement: This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Enzolytics, Inc. from time to time in its periodic reports filed with the SEC. While Enzolytics, Inc. believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Enzolytics to identify acquisition targets and formulate a business strategy for implementation. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. Such forward-looking statements are based on current expectations. They involve inherent risks and uncertainties, including factors that could delay, divert or change any of the statements made, and cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. These forward-looking statements are made as of the date of this press release. The Company expressly disclaims any intention or obligation to update the forward-looking statements or update the reasons why actual results could differ from those projected in the forward-looking statements. SOURCE Enzolytics, Inc.

Provides Updates on SAGA Transaction and on Virogentics, Inc. and Biogenysis, Inc. Progress ALLEN, TX / ACCESSWIRE / November 20, 2023 / Enzolytics, Inc. (OTC PINK:ENZC) ( /" ). Enzolytics, Inc. (the "Company") filed an amended December 31, 2022 OTC Annual Report and its delinquent September 30, 2023 OTC quarterly disclosure. The purpose of the amended OTC Annual Report filed today is to include the audited financial statements for December 31, 2022 and 2021. As part of the recently completed sale of the two operating subsidiaries, Virogenetics, Inc. ("VIRO") and Biogenysis, Inc. ("BGEN"), to Sagaliam Acquisition Corp. (NASDAQ:SAGA)("SAGA") post-closing deliverables included the Company providing audited financial statements for inclusion in the regulatory and NASDAQ filings of SAGA. The Company has received numerous inquiries from various entities and individuals regarding the status of the SAGA transaction and the status of the operations of VIRO and BGEN. With the completed sale of the operating subsidiaries the Company will no longer be the source of news on the progress and developments of VIRO or BGEN. SAGA is a NASDAQ entity and takes a more conservative approach to press releases as they are a SEC reporting entity and SAGA's policy is to report material events in 8-K filings accompanied by a press release. As a party to the business combination agreement with SAGA the Company can report that the transaction is complete. Prior to SAGA receiving any notice of what the Company believes is a frivolous action, designed and implemented to do nothing but cause harm to ENZC and the SAGA Shareholders, ENZC had voted its shares received as payment from the sale of the operating subsidiaries, VIRO and BGEN. These shares represent a quorum and more than enough votes to ensure passage of the two proposals, rendering the shareholder vote a fait accompli. The 45 million shares of SAGA stock have been received by the sellers and the Company is in the process of completing the regulatory required paperwork to declare and distribute 36 million shares to the ENZC equity holders on a fully diluted basis. Once the filings are complete, the Company will provide a detailed disclosure of the calculation and a definitive number of SAGA shares to be paid as a dividend to each shareholder of ENZC common and preferred shares. The Company currently estimates that for each fully diluted share of ENZC stock owned, the ENZC equity holders will receive between .00396 and .00409 SAGA shares for each fully diluted common share. This information is subject to change and should be viewed as a best estimate until the definitive disclosures are made after completing the required paperwork referenced above. As an example, if John Doe owns 100,000 common shares of ENZC, he will receive between 396 to 409 shares of SAGA as a dividend from the Company once it is approved. A more detailed example was filed as Supplemental Information on OTC Markets on July 10, 2023, by ENZC. In addition, the Company was able to negotiate a "make-whole" provision in the business combination agreement which protects the value of the shares received through the make-whole calculation date. This will allow ENZC shareholders to receive additional SAGA shares in the event that there is a drop in the SAGA share price prior to the completion of the stock dividend. SAGA is working with investors to access capital needed for the business and benefit from the increased access to capital markets of a NASDAQ entity. SAGA will be focused on investor communications and realizing the value and multiple market opportunities associated with the Company's technologies and intellectual property. Regarding updates on the operations and progress being made by VIRO and BGEN, we can disclose the information we had available when VIRO and BGEN were operating subsidiaries of ENZC at the date of the close of the transaction, September 30, 2023. One of the most important projects that ENZC was in the middle of prior to the sale is the ITV-1 African project. Due to the unstable situation and high political risk that developed in Congo, the parties decided to conduct the clinical trial of ITV-1 in Ethiopia, in collaboration with the Center for Innovative Drug Development and Therapeutic Trials for Africa (CDT-Africa) for the safety of all parties involved and the integrity of the process. Courtesy of Prof. Eyasu Makkonen, deputy head of CDT-Africa, the necessary procedures for conducting the clinical trial were established and have been implemented. A team was appointed under the leadership of Dr. Wondwossen, a professor at Addis Ababa University. An initial interest has been generated from the progress on the Africa project through VIRO's partner for additional clinical trials in Asia and India. A draft contract had been received prior to close and was being considered by VIRO for both of these markets. The African clinical trial is expected to conclude with a final report by the end of 2024. We believe that all future progress on this and potential other Clinical Trials will be timely disclosed by SAGA. Regarding the ongoing European Medicine Agency permitting efforts for ITV-1it has been determined that the trials should be expanded to cover the ability to be classified as an immunomodulator. The Clinical Trials will now include testing on patients with cirrhosis; cancer patients after receiving chemotherapy and radiotherapy treatments, HIV and all diseases in which there is an immune system decline. This is a change in the target group of patients from HIV to immunodeficient on hematological patients. The previously announced Clinical trials on Diabetes in Bulgaria, designed to investigate the impact of ITV-1 on blood sugar and the most important indicator of Glycosylated Hemoglobin blood glucose level, remain in progress. Shortly after the sale of VIRO to SAGA, Barry Kostiner, CEO of SAGA accompanied Diana and Harry Zhabilov, CEO and CSO respectively of Virogenetics, Inc., to Bulgaria where he toured the manufacturing facilities of ITV-1 and IPF Immune®. He also met with the former Prime Minister of Bulgaria and several of the advisors, service providers and supporters that VIRO has developed over the years. The expansion of VIRO's nutraceutical product line, by the addition of the exclusive licensing agreement for the US market of the Liver Detox product entered with ELIMUS OOD, is also a significant asset that was sold to SAGA by the transfer of ownership of VIRO. The new product accelerates the functions of the liver (accelerated emission of alcohol dehydrogenase), thereby reducing the harmful effects of alcohol on the body and the central nervous system. This is a new revolutionary nutritional supplement in the form of a drink. This product is currently being successfully marketed in the European and Asian markets. The approval by the FDA was ongoing and VIRO is having the labeling on the packaging approved so that the product can be offered in the US through the distribution channels currently being used for the sale of IPF-Immune. Additionally, VIRO has developed a new formulation to produce IPF Immune in a pill form while adding a vitamin C component. Enzolytics believed that these two developments have the potential to increase the market penetration for the nutraceutical line significantly, especially coupled with an aggressive marketing campaign that was being negotiated and developed featuring a former NFL player as spokesperson in IPF's first video presentation and the launch of VIRO's website. The Company has also received a trademark for IPF Immune from the US Patent and Trademark Office (USPTO). Biogenysis, Inc. has made significant progress in its Patent Cooperation Treaty (PCT) application covering its inventions relating to anti-SARS-CoV-2 Monoclonal Antibodies. The PCT application has now advanced to filing as a U.S. National Stage Application in the U.S. Patent Office and as a formal European Patent Organization (EPO) application. The EPO application makes possible coverage in the 39 contracting countries within the EPO. These countries include all of the countries in the European Union, the United Kingdom, and the extensive list of 39 member countries throughout Europe and adjacent regions. The discoveries made by the Company have been recognized as novel and inventive by the International Patent Office. As a result, the Company is entitled to apply for patents and claim exclusive rights to these discoveries for 20 years in each member country under the Patent Cooperation Treaty. The HIV PCT application covering HIV antigens and epitopes has filed national phase applications in Australia, Europe, and India. North America, Europe, India, and Australia have been strategically selected with a strategic focus on asset acquisition and target market. The Company's patent applications claim the use of any identified epitope or any combination of any of the multiple identified epitopes in any of the following ways: 1. For producing a therapeutic monoclonal antibody to treat the infection. 2. For making a vaccine against the virus. 3. For creating related prophylactic/therapeutic methods relating to the epitopes/antigens. 4. For use in any diagnostic test to identify whether a person has the viral infection. On September 11th, 2023, a Federal Trademark Application was filed in the United States Patent and Trademark Office (USPTO) for registration of the AI platform mark Chandradrishti™. The application has been filed as an "intent to use" application, with the mark's first use in providing services to others in interstate commerce to be identified at a later date. The Company's Chandradrishti™ AI platform has identified more than 26 conserved, immutable epitope sites on the FeLV virus mentioned in the patent application. The patent covers using any of the discovered Feline Leukemia epitopes conserved for producing monoclonal antibodies vaccines or using them in diagnostic tests to detect the virus in cats. After securing these rights, substantial partnerships or licensing of the technology to global pharmaceutical companies in their respective areas of expertise will be pursued. The Company's objective is to capitalize on strengths and expertise to introduce innovative and influential solutions for improved healthcare and significantly impact patients' lives worldwide. Charles Cotropia, CEO of Enzolytics, said: "Our focus is on our technologies for developing successful therapeutics for treating many infectious diseases. We have full confidence in each therapeutic being developed. We also have full confidence in advancing them under the Business Combination with Sagaliam Acquisition Corp. Our business combination with Sagaliam will ensure the necessary funding for the substantial advancement we know can be achieved. Efforts to thwart those plans are without merit and will be fully addressed as we proceed and in the right forums. While fully addressing these business matters diverts some attention from our main technological goals, it will clearly not prevent our success." Barry Kostiner commented, "My trip to Bulgaria was inspiring. Meeting members of the VIRO management team and their premier manufacturing and clinical trial vendors deepened my appreciation for the technology and opportunity ahead. An affiliate of GLD, the former sponsor of Sagaliam, recently filed a lawsuit asserting that the transaction with VIRO and BGEN disenfranchises GLD of its voting rights. We intend to vigorously defend Sagaliam against the lawsuit. We are committed to protecting the interests of our shareholders and believe that the lawsuit is without merit, particularly given that no shareholder would benefit from the dissolution of Sagaliam. This transaction benefits all shareholders and will provide a path to the capital needed to bring multiple valuable therapies to commercialization, in addition to benefiting disadvantaged communities in Africa and around the world that suffer from the high costs and lack of access to existing therapies." Safe Harbor Statement: This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Enzolytics, Inc. from time to time in its periodic reports filed with the SEC. While Enzolytics, Inc. believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Enzolytics to establish the efficacy of its therapeutics in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of its therapeutics in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. Such forward-looking statements are based on current expectations. They involve inherent risks and uncertainties, including factors that could delay, divert or change any of the statements made, and cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. These forward-looking statements are made as of the date of this press release. The Company expressly disclaims any intention or obligation to update the forward-looking statements or update the reasons why actual results could differ from those projected in the forward-looking statements. Company Contact: Enzolytics, Inc. 1101 Raintree Circle Allen, Texas 75013 SOURCE: Enzolytics, Inc. View source version on accesswire.com: