Connectyx Technologies Holdings Group, Inc. Announces Strategic Relationship with Mid-Atlantic BioTherapeutics, Inc. for Treatment of Symptomatic Rabies

 

Company to Acquire Worldwide Rights for Development of IMT504

 

Boca Raton, FL, Aug. 27, 2020 (GLOBE NEWSWIRE) — Connectyx Technologies Holdings Group, Inc. (OTC: CTYX) (“Connectyx” or the “Company”), a development-stage biomedical company focusing on novel treatments for rare diseases, announced today the Company has signed a term sheet with Mid-Atlantic BioTherapeutics, Inc. (MABT) to acquire all necessary rights for the development of IMT504, a novel, patented immunotherapy, to treat symptomatic rabies worldwide. IMT504 is being developed to treat patients whose disease has progressed beyond the stage where it can be treated by the existing approved rabies vaccines. Importantly, IMT504 has been granted orphan drug designation in the US, which provides significant benefits including tax credits, market exclusivity and waiver of certain FDA fees. The transaction is expected to close within 60 days.

 

“This strategic relationship provides an example of how the Company plans to grow our rare diseases product pipeline through a combination of acquisitions, in-licensing and sub-licensing of new technologies.” Paul M. Michaels, Connectyx CEO said.

 

MABT CEO David Horn, M.D. commented that “Rabies infection in patients that has progressed for several weeks from the initial animal bite, without conventional treatment, is almost always a fatal disease. There is a clear unmet need for new treatments for rabies, and our goal in this exciting collaboration with Connectyx is to accelerate the testing and approval of this sorely needed treatment option for patients worldwide.”

 

About Mid-Atlantic BioTherapeutics, Inc. https://mabt.us/

 

Mid-Atlantic BioTherapeutics was founded in 2011 with the mission of eradicating infectious diseases. MABT is a clinical-stage pharmaceutical company focused on the clinical development and commercialization of novel anti-infective approaches, such as the patented IMT504 technology platform that harnesses the body’s own immune response to fight off infections. The company is actively addressing the growing antibiotic resistance problems and creating a revolutionary treatment paradigm for bacterial and viral diseases, emerging infectious diseases and biodefense.

 

About Connectyx Technologies Holdings Group, Inc. http://connectyx.com/

Connectyx Technologies Holdings Group, Inc. is a development stage biomedical company that seeks to develop, in-license, sub-license and bring to market products in both the Pharmaceutical and Medical Device space. The Company focuses on products that are targeted at FDA-defined “Orphan Diseases” with patient populations under 200,000 in the United States. The company leverages management’s experience and business relationships with Life Science development associations as well as Life Science-focused venture capital firms to acquire Life Science candidates that fit within the company’s business model. At Connectyx, we envision a world where all patients have a therapeutic option.

Forward-Looking Statements

 

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. CTYX has great potential but is not yet generating revenues. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subjected to known, unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with OTC Markets from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

 

Contact:
Connectyx Technologies Holdings Group, Inc
investorrelations@connectyx.com
Paul Michaels
561-418-7725