Welcome to our dedicated page for Biostax news (Ticker: IMUN), a resource for investors and traders seeking the latest updates and insights on Biostax stock.
Biostax Corp., formerly known as Immune Therapeutics, is a specialty pharmaceutical company dedicated to producing, distributing, and marketing patented therapies that activate and regulate the immune system to combat severe, life-threatening diseases. The company's technology platform is centered on two cutting-edge immunotherapies, low-dose naltrexone (LDN) and methionine-enkephalin (MENK), developed over decades at prestigious institutions such as Penn State University, University of Chicago, State University of New York, and UCSF Multiple Sclerosis Center.
In 2023, Biostax finalized the transfer of three Investigational New Drug Applications (INDs) for JKB-122, a TLR4 antagonist targeting autoimmune and inflammatory conditions like Non-Alcoholic Fatty Liver Disease, Autoimmune Hepatitis, and Non-Alcoholic Steatohepatitis. The company's collaboration with Immgenuity, Inc. aims to achieve HIV remission by combining IMTV014 with Biostax's Lodonal™ and JKB-122, highlighting their dedication to innovative therapies addressing unmet medical needs.
Through a diversified product pipeline and a hub-and-spoke business model, Biostax is committed to developing therapies that restore immune balance, provide disease remission, and improve the quality of life for patients with autoimmune, inflammatory, and infectious diseases.
Biostax Corp. (OTC Pink: IMUN) and Statera Biopharma have reached a significant settlement, involving an amended royalty-bearing license agreement and a joint petition to dismiss an involuntary bankruptcy case against Statera. The agreement allows Biostax to pay royalties for exclusive rights to key intellectual properties, specifically surrounding Low-dose Naltrexone and Met-enkephalin, while Statera retains development rights for Crohn's Disease.
CEOs of both companies expressed optimism about the settlement, viewing it as a crucial step towards expanding market opportunities and enhancing shareholder value. The merger proposal with Worksite Labs was also highlighted, which is expected to strengthen Statera’s performance.
Immune Therapeutics, Inc. (OTC Pink: IMUN) has announced a majority stockholder approval for a name change to Biostax Corp. This change comes alongside the launch of a new website detailing strategic plans. The company will focus on several initiatives including:
- Commercial development in emerging markets
- Developing the TLR4 antagonist JKB-122 for autoimmune diseases
- Negotiating a late-stage Hyperphosphatemia treatment license
- Creating health-tech platforms
- Supporting Forte Animal Health
The name change will be effective following regulatory approval, with an anticipated timeline of sixty days. CEO Kelly Wilson highlighted expected growth in emerging markets.
Immune Therapeutics, Inc. (OTC PINK: IMUN) announced the resignation of CEO Stephen Wilson and Director Clifford Selsky, effective November 3 and 4, 2022, respectively. Wilson cited a lack of Director and Officer insurance as the reason for his departure. Kelly O. Wilson will serve as Interim CEO, while Glen Farmer remains CFO. The company believes these management changes will not hinder its strategic goals, including the development of the TLR4 Antagonist JKB-122. The Board is actively searching for a new CEO amid these transitions.
Immune Therapeutics (OTC PINK: IMUN) has appointed Louis Salomonsky to its Board of Directors. Dr. Stephen Wilson, CEO, highlighted Mr. Salomonsky's operational expertise and financial acumen as vital for advancing the company's objectives. Salomonsky expressed enthusiasm for his role in enhancing Immune's research and pipeline of immune-modulating therapeutics. With a background in real estate and extensive experience in managing substantial assets, Salomonsky brings a unique perspective to the board, potentially driving growth in the company's biotechnology initiatives.
Immune Therapeutics (OTC PINK: IMUN) announced compliance with OTC Markets after filing its 10-Q, resulting in the removal of a delinquency flag and restoring its Current Information status. New management aims to maintain rigorous compliance with reporting standards, enhancing shareholder confidence. CEO Dr. Wilson emphasized the importance of accurate filings, attributing previous delays to management transitions and record-keeping issues. The company focuses on developing pharmaceutical and biotechnology products for quick market entry.
Immune Therapeutics (OTC PINK:IMUN) has appointed Glen Farmer as Chief Financial Officer, succeeding Dr. Stephen Wilson, who continues as President and CEO. Farmer brings over 30 years of finance experience from previous roles at iAnthus Capital and Croma Pharmaceuticals. Additionally, Kelly Wilson has been appointed as Chief Operating Officer, leveraging her 25 years of experience to oversee core business units and optimize operations. The changes signify a strategic shift as the company prepares for commercialization and clinical trials, aiming for growth in its pharmaceutical portfolio.
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