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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.
