FORT COLLINS, Colo., April 13, 2022 (GLOBE NEWSWIRE) — Statera Biopharma (NASDAQ:STAB) (the “Company”), a biopharmaceutical company creating next-generation immune therapies that focus on immune restoration and homeostasis, announced today that the Company has agreed to enter into a strategic agreement with Coeptis Therapeutics, Inc. (OTC:COEP), a biopharmaceutical company developing innovative cell therapy platforms for cancer, to sell Statera’s rights to Entolimod and other related toll-like receptor 5 (TLR5) agonists. The consummation of the transaction is contingent upon negotiation of a definitive agreement and satisfaction of a number of closing conditions, including a contingency on Coeptis financing.
“Coeptis’ commitment to cancer therapies makes it a natural choice for the further development of Entolimod, which has demonstrated potential in multiple preclinical disease models,” said Michael K. Handley, President and Chief Executive Officer of Statera Biopharma. “With this announcement, we expect to improve our financial standing and enable the execution of a number of upcoming catalysts in advancing our programs and progressing toward our goal of changing the way people think about immunotherapy.”
Under the terms of the definitive agreement, Statera will receive a $6 million upfront payment and revenue-based milestone payments from Coeptis in exchange for Statera’s rights to any product containing Entolimod as an active ingredient and all other related TLR5 agonists. Coeptis will also assume responsibility for associated licenses, as well as Statera’s interest in Genome Protection, Inc.
“We believe that Entolimod has significant clinical and commercial potential as the first in a new generation of immunotherapies that may improve outcomes for patients with cancer and other serious medical conditions. We are excited to undertake this strategic investment to help develop innovative therapeutics that offer improved patient outcomes,” said Dave Mehalick, Chairman, President and Chief Executive Officer of Coeptis.
About Statera Biopharma
Statera Biopharma (formerly Cytocom, Inc.) is a clinical-stage biopharmaceutical company developing novel immunotherapies targeting autoimmune, neutropenia/anemia, emerging viruses and cancers based on a proprietary platform designed to rebalance the body’s immune system and restore homeostasis. Statera has one of the largest platforms of toll-like receptor (TLR) agonists in the biopharmaceutical industry with TLR4 and TLR9 antagonists, and the TLR5 agonists, Entolimod and GP532. TLRs are a class of protein that plays a …