Biozone
Pharmaceuticals has finalized its planned merger with Cocrystal Discovery, a
private biotech company developing antiviral therapeutics for human diseases.
Cocrystal has five therapeutic programs targeting the hepatitis C virus (HCV),
influenza, the human rhinovirus (HRV), dengue, and the norovirus.
The agreement names
Dr. Gary Wilcox as chief executive officer and chairman of the board, and Dr.
Roger Kornberg as chief scientist and a director of the combined entities.
“We are keenly focused
on bringing our small molecule inhibitors of the viral replication complex to
market,” Dr. Wilcox stated in the news release. “We believe in our ability to
discover oral, once-a-day, broad-spectrum antiviral drug candidates targeting
the polymerase enzyme of the Hepatitis C virus. This merger provides us even
greater resources to help bring products to market and offers our shareholders
an opportunity to realize significant value on their investment.”
Also joining the
company are Dr. Phillip Frost, Dr. Sam Lee, Steven Rubin and Dr. Jane Hsiao.
Dr. Frost stated,
“We are excited about the team we have assembled with Dr. Wilcox’s top-notch
pedigree and successes in bringing products to market; I am confident in the
future of this company. There are many compelling advantages to the
technologies for small molecule inhibitors of the viral replication complex.”
Per the agreement,
current shareholders of Biozone and Cocrystal will own approximately 40 percent
and 60 percent of the combined company, respectively. The emerging entity plans
to apply for a name and ticker change in the upcoming months to more accurately
reflect the business moving forward.
For more
information, visit www.biozonelabs.com
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