SAN FRANCISCO, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE EXCHANGE: KLY and OTC: KALTF) (the "Company" or "Kalytera") today announced that its shares will resume trading today on the TSX VENTURE EXCHANGE (“TSXV”).
The Company also announced that, pending TSXV approval, it will change its name to Claritas Pharmaceuticals, Inc.
The Company is also pleased to announce the launch of its new website at http://www.claritaspharma.com/.
The decision to rename the Company signals the re-launch of the Company, and its intent to focus on the development of its proprietary drug, R-107, for the treatment of vaccine-resistant strains of COVID-19 as well as other viral infections. R-107 is a nitric oxide releasing molecule designed to treat vaccine-resistant COVID-19 infection as well as the viruses that cause influenza and the common cold.
The Company’s ticker symbol will change as a result of the name change, and the new ticker symbol will be announced when the new name and the new symbol have been approved by the TSXV. Shareholders will receive letters of transmittal from the Company’s transfer agent, which will also be posted on SEDAR, and which can be used to exchange their current share certificates for certificates with the Company’s new name. Shareholders holding shares in electronic form need not take any action. All shareholders should refer to the letter of transmittal and instructions from their broker/dealer.
“Claritas will develop R-107 as a therapy for coronavirus and COVID-19 infection, as well as a broad-spectrum antiviral drug for the treatment of, and possible prevention of, other viral infections,” stated Robert Farrell, President and CEO of Claritas. “R-107 is a nitric oxide-releasing compound. There is an extensive body of data demonstrating the ability of nitric oxide to prevent the replication and transmission of various of RNA viruses, such as those that cause COVID-19 infection, as well as viruses that cause influenza and the common cold.”1
Mr. Farrell continued, “Unlike nitric oxide, which is a gas that must be administered by a trained respiratory therapists using special delivery equipment, R-107 is a liquid that can be easily administered orally in a capsule, or nasally though use of a nasal spray, or by a single intramuscular injection. Due to its ease of administration, R-107 may overcome the challenges inherent in administration of nitric oxide gas, and transform nitric oxide therapy into a potentially best-of-care treatment for coronavirus and COVID-19 infection, and potentially other viral infections as well.”
Mr. Farrell also stated, "We are delighted to debut our new Company website (http://www.claritaspharma.com/), which will be updated on a regular basis with news and webinars relating to the development of R-107 for treatment of COVID-19 and other viral infections.”
Professor Salvatore Cuzzocrea, President of the University of Messina and former President of the European Shock Society has read and approved the scientific disclosure in this news release. Professor Cuzzocrea has deep expertise regarding the medical use of nitric oxide and nitric oxide donors, and has published more than 600 papers on nitric oxide. He has conducted research and experiments with nitric oxide and nitric oxide donors since 1994, and worked closely as an advisor with the team that designed and invented R-107.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure, or contain the Covid-19 (or SARS-2 Coronavirus) at this time.
________________________
1 Nathan C., Xie Q.W. Nitric oxide synthases: roles, tolls, and controls. Cell. 1994;78:915–918. doi: 10.1016/0092-8674(94)90266-6. [PubMed] [CrossRef] [Google Scholar]
About Claritas Pharmaceuticals
Claritas Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company focused on developing and commercializing therapies for patients with significant unmet medical needs. Claritas focuses on areas of unmet medical need, and leverages its expertise to find solutions that will improve health outcomes and dramatically improve people's lives.
- Website Home: https://claritaspharma.com/
- News and Insights: https://claritaspharma.com/news/
- Investors: https://claritaspharma.com/investors/
Cautionary Statements
Neither 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 release.
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation in respect of its product candidate pipeline, planned clinical trials, regulatory approval prospects, intellectual property objectives, and other statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that future clinical studies may not proceed as expected or may produce unfavorable results. Claritas undertakes no obligation to comment on analyses, expectations or statements made by third parties, its securities, or financial or operating results (as applicable). Although Claritas believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Claritas’ control. The company’s name change has not yet been affected and the company believes that it will affect the name change subject to regulatory compliance as soon as practicable after this news release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Claritas disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Contact Information
Robert Farrell
President, CEO
(888) 861-2008
info@claritas.co