Kalytera Therapeutics Inc. (OTCMKTS:KALTF) has had to venture into the debt market in a bid to raise much-needed funds to pay off milestone payments owing to the acquisition of certain programs from Talent Biotech’s Limited. Early last year, the development CBD therapeutics company got access to some programs through the purchase of Talent.
Milestone Payments Obligation
Under the terms of the agreement with former Talent Shareholders, the company was required to make certain contingent payments upon achievement of certain milestones such as the issuance of essential patents.
In April, the United States Patent and Trademark Office issued a patent covering the use of CBD for the treatment of severe and refractory GVHD. In May, the agency also issued another license covering the use of CBD for the prevention and treatment of chronic forms of GVHD.
With the issuance of the two patents, Kalytera Therapeutics is obligated to make payments to the former Talent Shareholders as part of the agreement agreed last year. The CBD therapeutics company is now required to make payments of up to $2 million for each patent which amounts to a total payout of $4 million.
Kalytera has so far paid $50,000 to the former shareholders. In a bid to raise the remaining finances the company is currently marketing units made up of the company’s common share and purchase warrant. Each unit on offer is priced at $0.11 with the company optimistic of raising between $3 million and $10 million as part of the offering. Echelon Wealth Partners has been tasked with the responsibility of conducting the offering.
The company is obligated to make a minimum payment of $1.5 million upon closure of the ongoing offering, which is set to close on July 31, 2018. The company has reached an agreement with the former Talent Shareholders to defer a portion of the milestone payments.
Kalytera has been a disappointment for the better part of the year having already shed more than 70% in market value in the market. The stock is currently trading in a downtrend and dire need of new catalysts if it is to bottom out from current lows.
Trulieve Cannabis Corp (OTCMKTS: TCNNF) Reopens North Port Dispensary, Formerly Harves House of Cannabis
Trulieve Cannabis Corp (OTCMKTS: TCNNF) has announced the reopening of a North Port, Florida dispensary. This dispensary located in the Sarasota area is the 92nd Trulieve location in the state and was previously named Harvest House of Cannabis.
Trulieve reopens North Port dispensary.
When the North Port site reopens as Trulieve, it will greet Harvest patients with the same devoted personnel and high-quality service as when it closed for renovations and rebranding. Trulieve announced the completion of its purchase of Harvest Health and Recreation Inc. on October 1, with all Harvest dispensaries in Florida closed for rebranding to Trulieve. Throughout the month of October, the Company will continue to reopen Harvest sites across Florida.
The company is inviting the community to celebrate the reopening of its dispensary with all-day specials and swag giveaways. On launch day, all patients, from newcomers to long-time Trulieve patients, will be eligible for a 25% discount at the North Port facility.
Patients will find the largest assortment of CBD and THC products in Florida, including edibles, concentrates, smokable flowers, tinctures, vaporizers, topical creams, and more, in stores and online. Trulieve also provides home delivery throughout the state, as well as web-based ordering and in-store pickups.
Products available online and in-store
Trulieve’s whole product portfolio is available for online orders to aid patients with ordering, with in-store pickup or home delivery options available across the state depending on customer preference. In addition, Trulieve provides complimentary 30-minute virtual consultations with a Trulieve expert to assist with product, device, or doctor’s suggestion questions. Appointments are available on Trulieve’s website and open to all patients, even if they are new to medical cannabis or those searching for new therapeutic choices.
The company is keeping an eye on the COVID-19 situation and is committed to limiting the virus’s spread. Trulieve requires all staff, regardless of vaccination status, to put on masks in addition to following strict cleanliness and safety measures.
ILUS International Inc. (OTCMKTS: ILUS) Announces Award Of a $1 Million Contract For Phase 2 Burj 2020 Project
ILUS International Inc. (OTCMKTS: ILUS) has announced that BDC Fire which it acquired on April 12, 2021, which had received three contract awards estimated at $1.5 million, has now received a $1 million contract for phase 2 of the Burj 2020 Project.
BCD Fie receives another $1 million contract
BCD Fore had previously received a contract for fire systems installation for the Burj 2020 Tower in Dubai. The company started work on the project inQ3 2020, and the contract value for the phase is around $1 million.
The company is committed to completing the project and upcoming projects, and as a result, it is recruiting an additional 45 technicians and salespeople. Hiring more technicians puts the company in a position to apply for the lucrative A-level license for installation, supply, and maintenance of fire systems in industrial, residential, and oil fields.
ILUS Managing DirectorJohn-Paul Backwell said, “BCD Fire has achieved so much since we acquired it earlier this year and the award of this next phase of the Burj 2020 project is reward for the progress made by the ILUS and BCD teams. Obtaining the A-level license will rocket this acquisition to a whole new level. There has also been overwhelming interest from regional Fire Safety Training Companies in our new Virtual Reality Fire Extinguisher Training Courses which are being launched this month.”
FireBug and TVC received numerous purchase orders
CEO Nick Link stated, “ILUS just closed out its best quarter yet and we are looking forward to releasing an update on this in the next week or so once the team has finished consolidating the figures. FireBug and TVC have received several purchase orders during the 3rd quarter and they have been making excellent progress, but we have felt it best to provide updates on the more significant deals in the region of $1 million and upwards or noteworthy clients.”
Roche Holding Ltd (OTCMKTS: RHHBY) To Present New OCREVUS and ENSPRYNG Data at ECTRIMS 2021
Roche Holding Ltd (OTCMKTS: RHHBY) has announced that it will present new ENSPRYNG (satralizumab) and OCREVUS (ocrelizumab) data during the 37th Congress of the European Committee for Treatment and Research in Multiple Sclerosis.
Roche to present ENSPRYNG and OCREVUS data
The data comprises 38 abstracts showing new long-terms safety and efficacy data for ENSPRYNG and OCREVUS and the company’s ongoing efforts to assess COVID-19’s impact on people living with multiple sclerosis. More data will shore enhanced scientific understanding of NMOSD and MS in various patient populations, ensuring access to treatment.
Roche’s chief medical officer and global product development head Levi Garraway, said, “The longer-term efficacy and safety data for both OCREVUS and ENSPRYNG reinforce e the impact of these treatments- by significantly slowing disease progression in MS and by preventing debilitating relapses in NMOSD, respectively. We continue to see that early and ongoing treatment markedly improves outcomes, and we’ll continues to use scientific and real-world insights to improve our understanding and ways to support people living with these neurological disorders.”
Roche to present data from 27 MS studies
The company will present 27 multiple sclerosis studies that include data showing earlier OCREVUS treatment continues to influence disability progression for around eight years in individuals with primary progressive MS and up to 7.5 years in patients with relapsing MS in the third phase open able trials. In addition, the company will present an updated long-term safety analysis of all clinical studies in RMS and PPMS patients that will reinforce OCREVUS’ favorable risk-benefit profile.
Roche is focused on addressing health disparities, and the company is optimistic that inclusive research will enhance outcomes and derive insights that can address treatment barriers. The company will present a subgroup analysis of three studies, including CHORDS, ENSEMBLE PLUS, and SaROD in Hispanic, Latino, and African-American populations treated with OCREVUS infusion. Roche is committed to increasing understanding of NMOSD and enhancing care for people living with the condition.