ANEW MEDICAL ANNOUNCES KEY PATENT ISSUED IN CHINA TO PROTECT KLOTHO PROTEIN AND GENE DELIVERY SYSTEMS

Rhea-AI Summary

ANEW Medical, Inc. secures a patent in China for Klotho protein and gene delivery systems for treating cognition and neurodegenerative diseases. The company plans to expand its global presence and product development. The proposed merger with Redwoods (RWOD) is expected to boost ANEW's market visibility and listing on NASDAQ.

NEW YORK, March 4, 2024 /PRNewswire/ -- ANEW MEDICAL, INC. ("ANEW" or "the Company") (OTCPK: LEAS) a US-based biotechnology company ("ANEW") focused on developing cell and gene- based treatments to affect aging and age-related diseases, announced that is has been granted and issued a patent in China, number CN 117126829 A for the use of ANEW's Klotho protein and Klotho gene delivery and expression systems in the treatment of cognition, memory and neurodegenerative diseases. This intellectual property was licensed by ANEW from UNIVERSITAT AUTÒNOMA DE BARCELONA (UAB) and INSTITUCIÓ CATALANA DE RECERCA I ESTUDIS AVANÇATS (ICREA) in Barcelona, Spain on an exclusive worldwide basis and ANEW paid for all patent costs associated with obtaining –the patent.

Dr. Joseph Sinkule, the Founder and CEO of ANEW stated "Obtaining a patent in China was difficult but important to our global product development programs in neurodegenerative diseases. The aging population in China is affected by the same age-related diseases we are fighting in the US and Europe. ANEW plans to obtain patents in Hong Kong and other Asian markets and seek to establish a distributorship in these markets with companies in Asia that can market and sell our products".

In May 2023, ANEW announced its proposed merger with a special purpose acquisition company ("SPAC") called Redwoods (NASDAQ: RWOD) ("RWOD" or "Redwoods").  At closing, anticipated to take place in March 2024, we expect ANEW to be listed on NASDAQ. The CFO of RWOD and a member of the RWOD Board, Mr. Edward Cong Wang, will join the ANEW Board of Directors on the board of the combined company.

About ANEW MEDICAL, INC. - ANEW MEDICAL, INC. (OTC: LEAS) is a technology and medical product development company focused on the development of therapeutics and diagnostics for a broad range of life-threating disease indications. The Company has offices in the US and in Spain. ANEW's current portfolio consists of three platforms - generic oncology drugs that are in short supply in the US, Phase 3 ready biosimilar biologics targeting cancer and autoimmune diseases, and its proprietary gene therapy program using DNA and RNA as therapeutics and diagnostics.

Important Information about the Proposed Business Combination and Where to Find It

This press release relates to a proposed transaction between Redwoods and ANEW. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the proposed business combination, Redwoods, ANEW and/or a successor entity of the transaction has filed relevant materials with the SEC, including a registration statement on Form S-4 containing a proxy statement/prospectus (the "Registration Statement"). The Registration Statement includes a proxy statement/prospectus to be distributed to holders of Redwoods's common stock in connection with Redwoods's solicitation of proxies for the vote by Redwoods's stockholders with respect to the proposed transaction and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to ANEW's stockholders in connection with the proposed business combination. The Registration Statement has been filed and declared effective, and Redwoods [has mailed] a definitive proxy statement to its stockholders.

Before making any voting or investment decision, investors and security holders and other interested parties are urged to read the Registration Statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about Redwoods, ANEW and the proposed business combination. Copies of these documents may be obtained free of charge at the SEC's website at www.sec.gov.

The documents filed by Redwoods with the SEC also may be obtained free of charge upon written request to Redwoods at c/o Redwoods Acquisition Corp., 1115 Broadway 12th Floor, New York, NY 10010. The documents filed by ANEW or any successor entity of the transaction with the SEC also may be obtained free of charge upon written request to ANEW at 13576 Walnut Street, Suite A, Omaha, NE 68144 USA.

Participants in the Solicitation

Redwoods and ANEW and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Redwoods' stockholders with respect to the proposed business combination under the rules of the SEC. Securityholders may obtain more detailed information regarding the names, affiliations, and interests of certain of Redwoods' executive officers and directors in the solicitation by reading Redwoods' Registration Statement and other relevant materials filed with the SEC in connection with the proposed business combination when they become available. Information about Redwoods' directors and executive officers and their ownership of Redwoods common stock is set forth in its prospectus related to its initial public offering dated April 1, 2022. Other information regarding the interests of Redwoods' participants in the proxy solicitation, which in some cases, may be different than those of their stockholders generally, will be set forth in the Registration Statement relating to the proposed business combination when it becomes available. These documents can be obtained free of charge at the SEC's web site at www.sec.gov.

ANEW and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Redwoods in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination will be included in the Registration Statement for the proposed business combination.

Non-Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Forward-Looking Statements - This press release contains forward-looking statements. All statements other than statements of historical facts are "forward-looking statements," including those relating to future events. In some cases, forward-looking statements can be identified by terminology such as "plan", "expect", "anticipate", "may", "might", "will", "should", "project", "believe", "estimate", "predict", "potential", "intend", or "continue", or other words or terms of similar meaning. These statements include, without limitation, statements related to research, pr-clinical data, plans for future development, and the potential of a drug development candidate. These forward-looking statements are based on our current plans, objectives, estimates, expectations and intentions, and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a results of these risks and uncertainties, which include, without limitation, risks and uncertainties with the COVID-19 pandemic and its impact on the Company's clinical plans and business strategy, risks and uncertainties associated with product development and clinical success thereof, the uncertainties of regulatory approvals, and manufacturing and supply risks, other risks and uncertainties affecting the Company and its research and development programs as set forth in its SEC filings. Other risks and uncertainties of which the Company is not currently aware may also affect the Company's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements herein are made only as of the date hereof. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.

Investor Contact - Info@anewmeds.com 

ANEW MEDICAL, INC. – U.S. Phone (402) 239-5556

View original content:https://www.prnewswire.com/news-releases/anew-medical-announces-key-patent-issued-in-china-to-protect-klotho-protein-and-gene-delivery-systems-302077883.html

SOURCE ANEW MEDICAL, INC.

FAQ

What patent did ANEW Medical, Inc. secure in China?

ANEW secured a patent in China for the use of Klotho protein and gene delivery systems in treating cognition, memory, and neurodegenerative diseases.

Who licensed the intellectual property to ANEW?

The intellectual property was licensed by ANEW from Universitat Autònoma de Barcelona (UAB) and Institució Catalana de Recerca i Estudis Avançats (ICREA) in Barcelona, Spain.

What is the ticker symbol for Redwoods?

The ticker symbol for Redwoods is RWOD.

When is the anticipated closing date for the merger between ANEW and Redwoods?

The anticipated closing date for the merger between ANEW and Redwoods is March 2024.

Who will join the ANEW Board of Directors from Redwoods?

Mr. Edward Cong Wang, the CFO of Redwoods and a member of the Redwoods Board, will join the ANEW Board of Directors.

What is the focus of ANEW's product development programs?

ANEW is focused on developing cell and gene-based treatments for aging and age-related diseases.

Where does ANEW plan to establish distributorship for its products?

ANEW plans to establish distributorship in Hong Kong and other Asian markets.

What is the strategic importance of obtaining a patent in China for ANEW?

Obtaining a patent in China is crucial for ANEW's global product development programs in neurodegenerative diseases due to the aging population's prevalence of age-related diseases in China.

What expenses did ANEW cover in relation to the patent in China?

ANEW paid for all patent costs associated with obtaining the patent in China.

Why is the merger with Redwoods significant for ANEW?

The merger with Redwoods is expected to boost ANEW's market visibility and lead to its listing on NASDAQ.

What role will Mr. Edward Cong Wang play in the combined company?

Mr. Edward Cong Wang will join the ANEW Board of Directors from Redwoods.

Which markets does ANEW aim to target for product distribution?

ANEW aims to target markets in Hong Kong and other Asian countries for product distribution.

What is the focus of ANEW's global product development programs?

ANEW's global product development programs focus on developing treatments for aging and age-related diseases.

Who is the Founder and CEO of ANEW Medical, Inc.?

Dr. Joseph Sinkule is the Founder and CEO of ANEW Medical, Inc.

What is the goal of ANEW's patent acquisition in China?

The goal of ANEW's patent acquisition in China is to enhance its product development programs in neurodegenerative diseases.

What is the involvement of Redwoods in the proposed merger with ANEW?

Redwoods is the special purpose acquisition company (SPAC) involved in the proposed merger with ANEW.

What markets does ANEW plan to expand into?

ANEW plans to expand into markets in Hong Kong and other Asian countries.

Who granted the patent to ANEW for the Klotho protein and gene delivery systems?

The patent for the Klotho protein and gene delivery systems was granted to ANEW by China.

What is the significance of ANEW's partnership with Universitat Autònoma de Barcelona and Institució Catalana de Recerca i Estudis Avançats?

The partnership with these institutions allowed ANEW to license the intellectual property for the patent.

How does ANEW plan to leverage the patent in China for its products?

ANEW plans to use the patent in China to enhance its product development programs for neurodegenerative diseases.

What benefits does ANEW expect from obtaining patents in Hong Kong and other Asian markets?

ANEW expects to establish distributorship in these markets to market and sell its products.

What is the primary focus of ANEW's patent in China?

The primary focus of ANEW's patent in China is on the use of Klotho protein and gene delivery systems for treating cognition, memory, and neurodegenerative diseases.