Capstone Therapeutics Corp. Announces Name Change to Capstone Holding Corp.
Capstone Therapeutics Corp. (OTCQB:CAPS) has officially changed its name to Capstone Holding Corp. as of February 25, 2022. This name change reflects the Company's strategic shift away from pharmaceutical development, following the licensing of its LipimetiX Development assets in December 2021. Capstone has since acquired a majority stake in a profitable building materials company, TotalStone, LLC, and a minority stake in Diamond Products, LLC, a consumer wellness firm. The new name aligns with its current focus on these operating businesses.
- Acquired majority ownership in TotalStone, LLC, a profitable building materials company.
- Secured a minority stake in Diamond Products, LLC, a profitable consumer wellness company.
- The name change aligns with the new business model focused on creating shareholder value.
- Exited pharmaceutical development, which might impact future growth opportunities.
ALSIP, IL / ACCESSWIRE / February 25, 2022 / Capstone Therapeutics Corp. (OTCQB:CAPS) ("the Company"), The Company is please to announce a name change effective on this date to Capstone Holding Corp.
Michael Toporek, Chairman and CEO states "The Company has exited the pharmaceutical development business with the licensing of its LipimetiX Development assets in December, 2021. In recent periods, the Company has acquired a majority ownership in a building materials company (TotalStone, LLC) and a minority ownership position in a consumer wellness company (Diamond Products, LLC), both of which are profitable operating companies. The name change we are announcing today is more representative of our current business model as we seek to create value for our shareholders."
Please see the Company's Annual Report filed with the OTCQB Markets for further information.
About Capstone Therapeutics
Capstone Therapeutics was a biotechnology company committed to developing novel therapeutic peptides aimed at helping patients with under-served medical conditions. The drug development business has been discontinued. The Company's primary business activity going forward will be the operations of TotalStone, LLC, a construction materials company, and managing its equity interest in Diamond Products, LLC through its ownership of Capstone Beta, LLC, a member of Diamond Products Holdings, LLC.
Capstone's corporate headquarters are located in Alsip, Illinois. For more information, please visit the Company's website: www.capstonethx.com.
Statements in this press release or otherwise attributable to Capstone regarding our business that are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted results. These risks include the factors discussed in our Annual Report for the fiscal year ended December 31, 2020, and other documents we filed with the U.S. Securities and Exchange Commission or OTCQB Markets.
FOR FURTHER INFORMATION:
Investor Relations
(708)371-0660
investorinquiries@capstonethx.com
SOURCE: Capstone Therapeutics Corp
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