Statera rises on potential drug platform acquisition deal with Coeptis

Statera Biopharma

13/04/2022 15:56

** Shares of immune therapy developer  STAB.O  rise ~27% to
$0.36
    ** Co enters into strategic agreement with Coeptis
Therapeutics, which gives Coeptis right to acquire Statera's
clinical platform which targets the protein TLR5, including its
most advanced asset which targets the protein entolimod 
    ** Entolimod is currently being developed as treatment for
acute radiation syndrome
    ** Consummation of transaction contingent upon negotiation
of definitive agreement and satisfaction of number of closing
conditions
    ** Coeptis will agree to pay Statera $6 mln and
revenue-based milestone payments to be defined in definitive
agreement
    ** STAB has lost ~84% this year

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))