Company Reports First Quarter Results
Boca Raton, FL, May 19, 2020 (GLOBE NEWSWIRE) -- Connectyx Technologies Holdings Group, Inc. (OTC: CTYX) (“Connectyx” or the “Company”), a development stage biomedical company that seeks to develop, in-license, sub-license and bring to market products in both the Pharmaceutical and Medical Device space, appointed I. Richard Garr, Esq.to the Company's Scientific Advisory Board, and reported first quarter net income of $363,000 in its filing with OTC Markets.
Paul M. Michaels, Interim CEO and Director said, "I, along with the Board, Dr. Michael Grace and Dr. Ronald Bordens, welcome Richard to the Connectyx team. We thank him for his commitment to the Company’s mission to grow into an organization that fulfills the unmet needs of patients with rare diseases. His experience and expertise in unlocking promising pharmaceutical treatments is fully aligned with our corporate goals and will benefit Connectyx as we move forward."
Michaels continued, "We plan to build the Scientific Advisory Board into to a five-member team with deep experience in a broad range of therapeutic areas that will guide the Company on subjects including science, strategy, regulatory matters, mergers and acquisitions, and intellectual property."
I. Richard Garr, Esq.
I. Richard Garr, Esq., served as a Director and Chief Executive Officer and President of Neuralstem Inc. (now Seneca Biopharma, Inc.) from 1996 through February 2016. Additionally, as a co-founder and General Counsel at Neuralstem, Mr. Garr had responsibility and oversight for all operations of a world leading regenerative medicine company, including worldwide business development, joint ventures, and licensing. Mr. Garr created the stem cell industry’s first development agreements for Korea, Indonesia, Singapore, Malaysia and Vietnam. In 2016. Mr. Garr became a full-time advocate for patient’s rights to access experimental treatments in development both in the U.S. and Europe. In 2018, he founded Access Hope CRO, the only CRO (contract research organization) dedicated exclusively to facilitating safe, ethical, and legal expanded patient access to potentially live saving investigational treatments under the Trickett Wendler, Frank Mongiello, Jordan McLinn and Mathew Bellina Right to Try Act of 2018. Mr. Garr is a graduate of Drew University (1976) and the Columbus School of Law, The Catholic University of America (1979). He also was a founder and is a current Board member of the First Star Foundation, a children’s charity focused on abused children’s issues, a founder of The Starlight Foundation Mid-Atlantic chapter, which focuses on helping seriously ill children, and a past Honorary Chairman of the Brain Tumor Society.
Connectyx Files First Quarter Results
Connectyx has recently filed its financial results for the first quarter ended March 31, 2020, recording net income of $363,000 due to the further elimination of accrued liabilities. The Company’s disclosure report and financial statements can be accessed at: https://backend.otcmarkets.com/otcapi/company/financial-report/246431/content
About Connectyx Technologies Holdings Group, Inc. http://connectyx.com/
Connectyx Technologies Holdings Group, Inc. is a development stage biomedical company that seeks to develop, in-license, sub-license and bring to market products in both the Pharmaceutical and Medical Device space. The Company focuses on products that are targeted at FDA-defined "Orphan Diseases" with patient populations under 200,000 in the United States. The company leverages management's experience and business relationships with Life Science development associations as well as Life Science-focused venture capital firms to acquire Life Science candidates that fit within the company's business model. At Connectyx, we envision a world where all patients have a therapeutic option.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. CTYX has great potential but is not yet generating revenues. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subjected to known, unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with OTC Markets from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Connectyx Technologies Holdings Group, Inc