ZyVersa Therapeutics Generated Approximately $2.7 Million From Exercise of Warrants Following Excitement Around News That Inflammasome Inhibitors Have Potential to Effectively Treat Obesity
February 29 2024 - 6:57AM
ZyVersa Therapeutics, Inc. (Nasdaq: ZVSA, or “ZyVersa”), a clinical
stage specialty biopharmaceutical company developing first-in-class
drugs for the treatment of inflammatory and renal diseases with
high unmet medical needs, announces that on February 26, 2024, the
company generated approximately $2.7 Million from existing
investors’ exercise of previously issued warrants. This was
following excitement around news issued by NodThera on February 19,
2024, that their NLRP3 inflammasome inhibitors have potential to
treat obesity with weight loss efficacy similar to the GLP-1
receptor agonist, Wegovy, but with added cardiovascular benefits.
This news became viral among financial reporters, driving high
volume trading and increased stock prices for companies developing
inflammasome inhibitors, including ZyVersa.
About Inflammasome ASC Inhibitor IC 100
IC 100 is a novel humanized IgG4 monoclonal antibody that
inhibits the inflammasome adaptor protein ASC. IC 100 was designed
to attenuate both initiation and perpetuation of the inflammatory
response. It does so by binding to a specific region of the ASC
component of multiple types of inflammasomes, including NLRP1,
NLRP3, and AIM2, to address inflammatory diseases in which multiple
inflammasome pathways are activated. Intracellularly, IC 100 binds
to ASC monomers, inhibiting inflammasome formation, thereby
blocking activation of IL-1β early in the inflammatory cascade. IC
100 also binds to ASC in ASC Specks, both intracellularly and
extracellularly, further blocking activation of IL-1β and the
spread and perpetuation of the inflammatory response that is
pathogenic in inflammatory diseases. Because active cytokines
amplify adaptive immunity through various mechanisms, IC 100, by
attenuating cytokine activation, also attenuates the adaptive
immune response. To review a white paper summarizing the mechanism
of action and preclinical data for IC 100, Click Here.
About ZyVersa Therapeutics, Inc.
ZyVersa is a clinical stage specialty biopharmaceutical company
leveraging advanced, proprietary technologies to develop
first-in-class drugs for patients with renal and inflammatory
diseases who have significant unmet medical needs. The Company is
currently advancing a therapeutic development pipeline with
multiple programs built around its two proprietary technologies –
Cholesterol Efflux Mediator™ VAR 200 for treatment of kidney
diseases, and Inflammasome ASC Inhibitor IC 100, targeting damaging
inflammation associated with numerous CNS and peripheral
inflammatory diseases. For more information, please visit
www.zyversa.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements contained in this press release regarding
matters that are not historical facts, are forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. These include statements regarding
management’s intentions, plans, beliefs, expectations, or forecasts
for the future, and, therefore, you are cautioned not to place
undue reliance on them. No forward-looking statement can be
guaranteed, and actual results may differ materially from those
projected. ZyVersa Therapeutics, Inc (“ZyVersa”) uses words such as
“anticipates,” “believes,” “plans,” “expects,” “projects,”
“future,” “intends,” “may,” “will,” “should,” “could,” “estimates,”
“predicts,” “potential,” “continue,” “guidance,” and similar
expressions to identify these forward-looking statements that are
intended to be covered by the safe-harbor provisions. Such
forward-looking statements are based on ZyVersa’s expectations and
involve risks and uncertainties; consequently, actual results may
differ materially from those expressed or implied in the statements
due to a number of factors, including ZyVersa’s plans to develop
and commercialize its product candidates, the timing of initiation
of ZyVersa’s planned preclinical and clinical trials; the timing of
the availability of data from ZyVersa’s preclinical and clinical
trials; the timing of any planned investigational new drug
application or new drug application; ZyVersa’s plans to research,
develop, and commercialize its current and future product
candidates; the clinical utility, potential benefits and market
acceptance of ZyVersa’s product candidates; ZyVersa’s
commercialization, marketing and manufacturing capabilities and
strategy; ZyVersa’s ability to protect its intellectual property
position; and ZyVersa’s estimates regarding future revenue,
expenses, capital requirements and need for additional
financing.
New factors emerge from time-to-time, and it is not possible for
ZyVersa to predict all such factors, nor can ZyVersa assess the
impact of each such factor on the business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. Forward-looking statements included in this press
release are based on information available to ZyVersa as of the
date of this press release. ZyVersa disclaims any obligation to
update such forward-looking statements to reflect events or
circumstances after the date of this press release, except as
required by applicable law.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities.
Corporate, Media, and IR Contact:Karen
CashmereChief Commercial
Officerkcashmere@zyversa.com786-251-9641
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