Oncotelic Announces Formation of Animal Health Division
Oncotelic Therapeutics (OTLC) has officially launched an animal health division, emphasizing its commitment to innovative drug development for animals, particularly pets. The initiative aims to utilize blockchain technology and a decentralized autonomous organization (DAO) to improve drug development processes. Chairman and CEO Dr. Vuong Trieu expressed optimism about the integration of DAOs within the animal health sector and the potential for existing drug candidates to succeed in this new market. The company acknowledges the inherent risks in its forward-looking statements related to future product development and regulatory approvals.
- Launch of a new animal health division focused on innovative drug development.
- Intention to utilize blockchain technology to enhance drug development processes.
- Potential for existing drug candidates to serve the animal health market.
- Forward-looking statements entail risks and uncertainties, including regulatory challenges.
- Potential for lower than expected clinical trial site activation or enrollment rates.
AGOURA HILLS, Calif., Oct. 06, 2022 (GLOBE NEWSWIRE) -- Oncotelic Therapeutics, Inc (OTCQB:OTLC) ("Oncotelic", the "Company" or “We”), directly and / or through its wholly owned subsidiaries Oncotelic Inc. and PointR Data Inc., a developer of treatments for rare and orphan indications, including Parkinson’s Disease, PDAC, DIPG, and COVID-19, today announced the formation of an animal health division.
One of the objectives being evaluated by the Company within the new initiative is the democratization of the animal health space through application of blockchain technology and a decentralized autonomous organization (DAO) against our current portfolio. We acknowledge that the power of a DAO, as it is being used today and the consistent innovations it brings as time goes on, has the potential to enhance drug development for a largely unmet market for animals, and pets in particular.
“We are really excited to see what the future holds with DAOs and animal health in general and for the Company. While it is only one of the many objectives being contemplated within this new division, we believe that our current portfolio of drug candidates could be successful in the animal health segment” said Dr. Vuong Trieu, Chairman and CEO - Oncotelic.
Oncotelic's Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Al statements, other than statements of historical facts, included in this communication regarding strategy, future operations, future financial position, prospects, plans and objectives of management are forward-looking statements. Words such as "may", "expect", "anticipate" "hope", "vision", "optimism", "design", "exciting", "promising", "wil", "conviction", "estimate," "intend," "believe", "quest for a cure of cancer", "innovation-driven", "paradigm-shift", "high scientific merit", "impact potential" and similar expressions are intended to identify forward-looking statements. Forward looking statements contained in this press release include, but are not limited to, statements about future plans related to the development of our product pipeline for animal health products, use of blockchain technology to enhance the drug development process, scope and success of our product development efforts in the animal health space and the potential use of the company's product candidates to treat various cancer indications as well as obtaining required regulatory approval to conduct clinical trials and upon granting of approval by the regulatory agencies, the successful marketing of the products. Each of these forward-looking statements involves risks and uncertainties, and actual results may differ materially from these forward-looking statements or may not occur at a l. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during preclinical or clinical studies, clinical trial site activation or enrolment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, failure of collaborators to support or advance collaborations or product candidates and unexpected litigation or other disputes, taking the Company or its affiliates through initial public offerings. These risks are not exhaustive, the company faces known and unknown risks, including the risk factors described in the Company's annual report on Form 10-K filed with the SEC on April 15, 2022 and in the company's other periodic filings. Forward-looking statements are based on expectations and assumptions as of the date of this press release. Except as required by law, the company does not assume any obligation to update forward-looking statements contained herein to reflect any change in expectations, whether as a result of new information future events, or otherwise.
Contact Information:
For Oncotelic Therapeutics, Inc.:
Amit Shah
ashah@oncotelic.com
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