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Sagaliam Acquisition Corp (Expert Market: SAGA) has responded to a press release by Nika Pharmaceuticals, Inc., calling it false and misleading. SAGA claims that Nika's CEO, Dimtar Savov, is falsely asserting rights to patents for an Immunotherapy treatment of HIV/AIDS, which are actually owned by Harry H. Zhabilov and the Zhabilov Trust. SAGA's subsidiary, Virogentics, Inc., holds the exclusive worldwide license for ITV-1, the treatment in question.
SAGA's CEO, Barry Kostiner, stated that the company will pursue legal and regulatory actions against Nika for what they believe is a pattern of false and damaging statements. SAGA is continuing its work on registration, clinical trials, and distribution of ITV-1 in African countries. The company emphasizes that ITV-1 has shown positive results in HIV treatment and is covered by U.S. Patent Nos. 8,066,982 and 7,479,538.
Sagaliam Acquisition Corp (SAGA) announced the launch of a new IPF formula, IPF Immune+ with Vit C, developed by Virogentics, Inc., a subsidiary of SAGA, and a Bulgarian product development team. The product combines Vitamin C with an existing patented compound and will be available in pill and lozenge form. Additionally, a new slimming formula will be added to the VIRO nutraceutical product line. CEO Barry Kostiner expressed enthusiasm for the consumer approval of the IPF nutraceutical and highlighted future collaborations with Enzolytics for expanding the company's wellness product portfolio. SAGA's partnership with Dr. Lachezar Ivanov is expected to result in the development of brain detox and liver detox nutraceuticals in the American market, along with the latest IPF immune formulation with Vitamin C.
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