Therma Bright's Investment Partnership InStatin Joins Forces with InVixa to Enhance Its Patent Portfolio For The Development Of Innovative Respiratory Solutions
Rhea-AI Summary
Therma Bright announces a strategic partnership between its investment partners InStatin and InVixa. InVixa will assign its exclusive worldwide licensing agreement for inhaled statin solutions to InStatin, pending University of California, Davis approval. InStatin will issue 160,000 shares to InVixa shareholders, increasing Therma Bright's stake to approximately 20%. InStatin is initiating a Series A funding round to advance its statin inhalant solution for asthma and COPD. The global asthma treatment market is projected to reach $30.1 billion by 2030, while the lung disease therapeutics market is expected to grow from $83.4 billion in 2023 to $152.4 billion by 2033.
Positive
- Therma Bright's stake in InStatin increases by 3% to approximately 20%
- InStatin secures exclusive worldwide licensing for inhaled statin solutions
- Company positioned in growing markets: asthma ($30.1B by 2030) and lung disease therapeutics ($152.4B by 2033)
Negative
- Product still in early development stage, pending preclinical studies and Phase 1 trials
- Future dilution expected from upcoming Series A funding round
News Market Reaction – TBRIF
In the trading session that priced this news, TBRIF declined 7.58%, reflecting a notable negative market reaction.
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InStatin to secure exclusive worldwide licensing agreement of InVixa's inhaled statin solution to prevent and treat acute lung disease
Toronto, Ontario--(Newsfile Corp. - October 28, 2024) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF), a leading developer and investment partner in advanced diagnostic and medical device technologies, is pleased to announce a significant development with its investment partners, InStatin and InVixa. InVixa will assign its licensing agreement to InStatin, contingent upon approval from the University of California, Davis.
The collaboration marks a pivotal step in the integration of these two businesses. This strategic move of InVixa assigning InStatin with an exclusive, worldwide licensing agreement for it inhaled statins to prevent and treat acute lung disease is expected to bolster InStatin's intellectual property portfolio. InStatin in return will issue 160,000 InStatin shares to InVixa's shareholders, further solidifying the partnership and aligning their interests as they advance both their innovative respiratory solutions.
Therma Bright stake in InStatin will increase by
"This collaboration is particularly focused on addressing critical healthcare challenges, including asthma and acute lung disease," shared Ijaz Khan, President of InStatin. "The exclusive worldwide license for InVixa's inhaled statin solution to prevent and treat acute lung disease fits nicely and makes perfect sense for InStatin's own IP portfolio around statin inhalant solution for asthma and COPD."
The global market for asthma treatment is projected to reach USD
"We're pleased that InVixa and InStatin have initiated this worldwide licensing agreement;" expressed Rob Fia, CEO of Therma Bright. "The opportunity that both solutions bring to individuals suffering from these respiratory diseases is very exciting. Furthermore, it offers our shareholders a wonderful opportunity to participate in a space that is expected to experience solid growth over the next decade."
Therma Bright's investments in InStatin, and InVixa are poised to revolutionize asthma, COPD and acute lung disease treatments with their innovative inhalant solutions, aiming to provide both consumers and medical professionals with effective, high-quality options to combat these pressing health issues.
In other news, Therma Bright is working closely with Quantify Medical on the trial of Venowave VW5 device sales and Medicare/Medicaid HCPCS Level II code E0683 reimbursement program. The Company will provide an update to the marketplace upon completion of Quantify Medical's trial through its medical and healthcare practitioner provider network.
About Therma Bright Inc. Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.
Therma Bright Inc.
Rob Fia, CEO
rfia@thermabright.com
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FORWARD-LOOKING STATEMENTS Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as progressing clinical trials at InStatin, and the sales trial of Venowave and related information as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228001