ZyVersa is a clinical stage biopharmaceutical company
developing first-in-class product candidates for treatment of
renal and inflammatory diseases
WESTON,
Fla. and BRIDGEWATER,
N.J., Dec. 12, 2022 /PRNewswire/ -- ZyVersa
Therapeutics, Inc. ("ZyVersa"), a clinical stage specialty
biopharmaceutical company leveraging advanced proprietary
technologies to develop products for patients with renal or
inflammatory diseases with high unmet medical needs, and Larkspur
Health Acquisition Corp. (NASDAQ: LSPR or "Larkspur"), a
blank-check special purpose acquisition company, are pleased to
announce closing of their previously announced business
combination.
ZyVersa & Larkspur Health close
Business Combination; ZyVersa to begin trading on Nasdaq
December 13, 2022 (Ticker ZVSA)
The business combination and related transactions were approved
by Larkspur's stockholders at a special meeting on December 8, 2022. The combined company will
operate as ZyVersa Therapeutics, Inc., under ZyVersa's previous
management team, led by Stephen C.
Glover, Co-Founder, Chief Executive Officer, and Chairman of
ZyVersa. Daniel J. O'Connor, who was
Chairman and Chief Executive Officer of Larkspur, will join
ZyVersa's Board of Directors. ZyVersa's common stock is expected to
begin trading on Nasdaq under ticker symbols "ZVSA" on December 13, 2022. Larkspur's warrants that
previously traded under the symbol "LSPRW" will no longer be listed
for trading on Nasdaq.
"Today marks an important milestone for ZyVersa. We are thrilled
to close our business combination with Larkspur and begin our next
chapter as a publicly traded company," stated Mr. Glover. "I would
like to thank our partners at Larkspur, our board of directors, and
my colleagues at ZyVersa who have contributed to this achievement.
Funding from this transaction allows ZyVersa to take steps to
advance our clinical program for VAR 200, a cholesterol efflux
mediator for patients with renal disease, and to progress IC 100,
an inflammasome ASC inhibitor, to Investigational New Drug
Application," continued Mr. Glover.
"We are delighted to partner with ZyVersa in this business
combination," said Mr. O'Connor. "We believe that ZyVersa has
potential to build stockholder value, based on its unique value
proposition as discussed in public filings," continued Mr.
O'Connor.
Advisors
The Benchmark Company LLC and Noble Capital Markets, Inc. are
serving as financial advisors to ZyVersa, and Lowenstein Sandler
LLP is serving as legal advisor to ZyVersa.
A.G.P./Alliance Global Partners, to which Manatt, Phelps &
Phillips, LLP is serving as legal advisor, is serving as the
exclusive financial advisor to Larkspur. Alston & Bird LLP is
serving as legal advisor to Larkspur.
About Larkspur Health Acquisition
Corp.
Larkspur is a Special Purpose Acquisition Company (SPAC) formed
to identify a biopharmaceutical company that can develop and thrive
as a newly formed public company, and benefit from Larkspur's
operational expertise and a significant infusion of capital.
Members of Larkspur's management team and board of directors have
participated on former management and executive leadership teams of
private and/or public biopharmaceutical companies and they
collectively have over 50+ years of aggregate investment and
operational experiences. The team strongly believes in the growth
opportunities in the biotechnology industry. They are experienced
operators who seek to partner with top innovators and thinkers in
the biopharmaceutical field. Their entrepreneurial approach
supports management teams in making impactful decisions with an eye
toward growth and operational excellence. For more information,
please visit www.lsprhealth.com.
About ZyVersa Therapeutics, Inc.
ZyVersa is a clinical stage specialty biopharmaceutical company
leveraging advanced, proprietary technologies to develop product
candidates that address high unmet medical needs in the areas of
renal and inflammatory diseases. ZyVersa's development pipeline
includes phase 2a ready VAR 200, a cholesterol efflux mediator for
treatment of rare kidney disease, focal segmental
glomerulosclerosis. ZyVersa believes VAR 200 has potential to treat
other glomerular diseases, including Alport syndrome and diabetic
kidney disease. ZyVersa's development pipeline also includes IC
100, a novel inflammasome ASC inhibitor being developed to treat a
multitude of inflammatory diseases. For more information, please
visit www.zyversa.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements contained in this press release regarding
matters that are not historical facts, are forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. These include statements regarding
management's intentions, plans, beliefs, expectations, or forecasts
for the future, and, therefore, you are cautioned not to place
undue reliance on them. No forward-looking statement can be
guaranteed, and actual results may differ materially from those
projected. ZyVersa Therapeutics, Inc ("ZyVersa") uses words such as
"anticipates," "believes," "plans," "expects," "projects,"
"future," "intends," "may," "will," "should," "could," "estimates,"
"predicts," "potential," "continue," "guidance," and similar
expressions to identify these forward-looking statements that
are intended to be covered by the safe-harbor provisions.
Such forward-looking statements are based on ZyVersa's expectations
and involve risks and uncertainties; consequently, actual results
may differ materially from those expressed or implied in the
statements due to a number of factors, including ZyVersa's plans to
develop and commercialize its product candidates, the timing of
initiation of ZyVersa's planned preclinical and clinical trials;
the timing of the availability of data from ZyVersa's preclinical
and clinical trials; the timing of any planned investigational new
drug application or new drug application; ZyVersa's plans to
research, develop, and commercialize its current and future product
candidates; the clinical utility, potential benefits and market
acceptance of ZyVersa's product candidates; ZyVersa's
commercialization, marketing and manufacturing capabilities and
strategy; ZyVersa's ability to protect its intellectual property
position; and ZyVersa's estimates regarding future revenue,
expenses, capital requirements and need for additional
financing.
New factors emerge from time-to-time, and it is not possible for
ZyVersa to predict all such factors, nor can ZyVersa assess the
impact of each such factor on the business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. Forward-looking statements included in this press
release are based on information available to ZyVersa as of the
date of this press release. ZyVersa disclaims any obligation to
update such forward-looking statements to reflect events or
circumstances after the date of this press release, except as
required by applicable law.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities.
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SOURCE ZyVersa Therapeutics, Inc.