InStatin to secure exclusive worldwide licensing agreement of InVixa's inhaled statin solution to prevent and treat acute lung disease
Toronto, Ontario--(Newsfile Corp. - October 28, 2024) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF), a leading developer and investment partner in advanced diagnostic and medical device technologies, is pleased to announce a significant development with its investment partners, InStatin and InVixa. InVixa will assign its licensing agreement to InStatin, contingent upon approval from the University of California, Davis.
The collaboration marks a pivotal step in the integration of these two businesses. This strategic move of InVixa assigning InStatin with an exclusive, worldwide licensing agreement for it inhaled statins to prevent and treat acute lung disease is expected to bolster InStatin's intellectual property portfolio. InStatin in return will issue 160,000 InStatin shares to InVixa's shareholders, further solidifying the partnership and aligning their interests as they advance both their innovative respiratory solutions.
Therma Bright stake in InStatin will increase by 3% to approximately 20%, based on the Company's ownership of InVixa and prior to dilution on the next funding round currently in process. InStatin has begun the process of raising its Series A Round, aimed at accelerating the development of its groundbreaking statin inhalant solution for asthma and chronic obstructive pulmonary disease (COPD). The solution has shown promising results in laboratory tests, and InStatin is now preparing to initiate preclinical studies in anticipation of Phase 1 human trials.
"This collaboration is particularly focused on addressing critical healthcare challenges, including asthma and acute lung disease," shared Ijaz Khan, President of InStatin. "The exclusive worldwide license for InVixa's inhaled statin solution to prevent and treat acute lung disease fits nicely and makes perfect sense for InStatin's own IP portfolio around statin inhalant solution for asthma and COPD."
The global market for asthma treatment is projected to reach USD $30.1 billion by 2030, according to BioSpace news, while the lung disease therapeutics market is expected to grow from US$ 83.4 billion in 2023 to US$ 152.4 billion by 2033, as reported by Future Market Insights.
"We're pleased that InVixa and InStatin have initiated this worldwide licensing agreement;" expressed Rob Fia, CEO of Therma Bright. "The opportunity that both solutions bring to individuals suffering from these respiratory diseases is very exciting. Furthermore, it offers our shareholders a wonderful opportunity to participate in a space that is expected to experience solid growth over the next decade."
Therma Bright's investments in InStatin, and InVixa are poised to revolutionize asthma, COPD and acute lung disease treatments with their innovative inhalant solutions, aiming to provide both consumers and medical professionals with effective, high-quality options to combat these pressing health issues.
In other news, Therma Bright is working closely with Quantify Medical on the trial of Venowave VW5 device sales and Medicare/Medicaid HCPCS Level II code E0683 reimbursement program. The Company will provide an update to the marketplace upon completion of Quantify Medical's trial through its medical and healthcare practitioner provider network.
About Therma Bright Inc. Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.
Therma Bright Inc.
Rob Fia, CEO
rfia@thermabright.com
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FORWARD-LOOKING STATEMENTS Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as progressing clinical trials at InStatin, and the sales trial of Venowave and related information as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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