QualityStocks would like to highlight BioZone Laboratories, Inc. (
OTCQB: BZNE). The company, formed in 1987 by Dr. Brian Keller, has operated since inception as a developer, manufacturer, and marketer of over-the-counter drugs and preparations, cosmetics, and nutritional supplements. BioZone has developed hundreds of products throughout its history and sold millions of units. The company's strong customer base is made up of large, well-known industry leaders.
In the company’s news,
Biozone Pharmaceuticals has finalized its planned merger with Cocrystal Discovery, a private biotech company developing antiviral therapeutics for human diseases. Cocrystal has five therapeutic programs targeting the hepatitis C virus (HCV), influenza, the human rhinovirus (HRV), dengue, and the norovirus.
The agreement names Dr. Gary Wilcox as chief executive officer and chairman of the board, and Dr. Roger Kornberg as chief scientist and a director of the combined entities.
“We are keenly focused on bringing our small molecule inhibitors of the viral replication complex to market,” Dr. Wilcox stated in the news release. “We believe in our ability to discover oral, once-a-day, broad-spectrum antiviral drug candidates targeting the polymerase enzyme of the Hepatitis C virus. This merger provides us even greater resources to help bring products to market and offers our shareholders an opportunity to realize significant value on their investment.”
Also joining the company are Dr. Phillip Frost, Dr. Sam Lee, Steven Rubin and Dr. Jane Hsiao.
Dr. Frost stated, “We are excited about the team we have assembled with Dr. Wilcox’s top-notch pedigree and successes in bringing products to market; I am confident in the future of this company. There are many compelling advantages to the technologies for small molecule inhibitors of the viral replication complex.”
Per the agreement, current shareholders of Biozone and Cocrystal will own approximately 40 percent and 60 percent of the combined company, respectively. The emerging entity plans to apply for a name and ticker change in the upcoming months to more accurately reflect the business moving forward.
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Forward-Looking Statement:
This release may contain 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, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
