Statera Biopharma and Lay Sciences Inc. Announce Intent to Enter Strategic Partnership to License the Manufacturing Rights to Certain Lay Sciences IgY Products
Statera expects to acquire option to license Lay Sciences products for respiratory & gastrointestinal disorders
FORT COLLINS, Colo., May 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 intends to enter into a non-binding term sheet with respect to a strategic partnership with Lay Sciences, Inc. (“Lay Sciences”), a development and commercialization company of innovative solutions, to license worldwide manufacturing rights to certain Lay Sciences’ IgY products containing avian antibodies as an active ingredient.
“The strategic partnership with Lay Sciences has the potential to produce near term revenue,” said Michael K. Handley, President and Chief Executive Officer of Statera Biopharma. “The agreement allows Statera the right to supply the products for the existing approved markets. Statera also receives the right to license and commercialize current and future products for other indications.”
Under the terms of the proposed agreement, Lay Sciences would receive an upfront payment comprised of both equity and cash and would also have the potential to earn royalties and milestones associated with the development of IgY in gastrointestinal and upper respiratory indications.
“Lay Sciences is pioneering a new generation of treatment and prophylaxis with proprietary formulations that protect IgY from gastric acids and proteases that allows for release of antibodies to targeted regions of the gut,” said Satish Chandran, Chief Executive Officer, Lay Sciences, Inc. “We are excited to partner with Statera and believe oral polyclonal IgY antibodies allow for therapeutic intervention and for prophylaxis in a targeted manner that will enhance our ability to combat chronic, life‐threatening diseases.”
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 key role in the innate immune system. Statera is developing therapies designed to directly elicit within patients a robust and durable response of antigen-specific killer T-cells and antibodies, thereby activating essential immune defenses against autoimmune, inflammatory, infectious diseases, and cancers. Statera has clinical programs for Crohn’s disease (STAT-201), hematology (Entolimod), pancreatic cancer (STAT-401) and COVID-19 (STAT-205) in addition to potential expansion into fibromyalgia and multiple sclerosis. To learn more about Statera Biopharma, please visit www.staterabiopharma.com.
About Lay Sciences, Inc.
Lay Sciences is a global leader in the development and commercialization of innovative, high value-added solutions to advance clinical performance, define standard of care and improve patient outcomes. Using patent pending and proprietary technologies owned by Lay Sciences or licensed from its partnering companies, ReaGene Biosciences Pvt. Ltd., Prodigy Biotech, Inc. and Kyntox Biotech India Pvt. Ltd., Lay Sciences is dedicated to developing and providing innovative products and devices focused on treating and preventing diseases of the GI tract. The company’s flagship product, ImmunIgY™, is the first-in-class antibody-based oral product developed to address the pivotal step in viral entry and infection. For more information, please visit www.myimmunigy.com or www.laysciences.com
Extracted from: GlobeNewsWire
https://www.globenewswire.com/news-release/2022/05/13/2442928/0/en/Statera-Biopharma-and-Lay-Sciences-Inc-Announce-Intent-to-Enter-Strategic-Partnership-to-License-the-Manufacturing-Rights-to-Certain-Lay-Sciences-IgY-Products.html
