New York, NY -- July 25, 2023 -- InvestorsHub NewsWire --
Qrons Inc. (OTCQB:QRON)
announced today the signing of a License Agreement Term Sheet
effective July 17, 2023 with Professors Benjamin Sredni &
Michael Albeck of Bar Ilan University in Israel for an
exclusive world-wide, perpetual license of their IP in
Tellurium based compounds. The IP will be used together Qrons’ IP
created by Dr. Ido Merfeld, Qrons co-founder as part of a new
research program to experiment and commercialize the therapeutic
effect of certain Tellurium based compounds on antibiotic
resistance bacterial infections, Sepsis and Traumatic Brain
Injuries. The research may be expanded to other configurations as
warranted. The Professors and Dr. Merfeld intend to file for new
patents.
The Professors will join Qrons revamped Scientific Advisory
Board, be entitled to an earned royalty, substantial options in
Qrons and other financial incentives and terms, as more fully set
out in the Agreement.
This licensing follows studies conducted by the Professors and
Qrons which suggest that some configurations may have significant
therapeutic effect on antibiotic resistant bacteria infections and
Sepsis. With funding, Qrons plans to proceed to the next phase
which shall include a pre-clinical validation experiment followed
by preparation for a limited human pilot trial to combat Sepsis,
with expected quick results due to the emergency nature of
Sepsis.
Qrons believes that Tellurium based compounds offer many
advantages as they have already been proven to be non-toxic in
clinical trials and thus offer a faster pathway to
commercialization. They are also able to penetrate the blood brain
barrier, thus may also be able to treat diffused axonal brain
injuries , commonly called concussions.
Professor Sredni is a former Chief Scientist of Israel's
Ministry of Health, and is Director of Bar-Ilan's Cancer, Aids and
Immunology Research (CAIR) Institute , inventor of numerous
patents, author of many publications and a past visiting scientist
at the Lab of Immunology at the NIH in Bethesda, Md , where he
maintains numerous professional affiliations.
Professor Albeck is an organic and bioorganic chemist of
Tellurium compounds and past President of Bar Ilan University, as
well as holding many scientific duties outside the University.
Professors Sredni and Albeck have published over 120 scientific
publications and patents.
Antimicrobial resistance is an urgent global public health
threat, killing at least 1.27 million people worldwide and
associated with nearly 5 million deaths in 2019, according
to a report
released in The Lancet. In the U.S., more than
2.8 million antimicrobial-resistant infections occur each year.
Sepsis is a life-threatening medical emergency associated
with a high rate of patient deaths in intensive care units. The CDC
reports that each year in the U.S. more than 1.7 million people
develop sepsis, and at least 350,000 adults who develop sepsis die
during their hospitalization or are discharged to hospice. 1 in
3 people who die in a hospital had sepsis during that
hospitalization.
According to the CDC there were approximately 223,135 TBI
related hospitalizations in 2019 and 64,362 related deaths in 2020.
These estimates do not include the many TBIs that are only treated
in the emergency department, primary or urgent care, or those that
go untreated.
Dr. Ido Merfeld President and co-founder of Qrons said “We are
very excited to join forces with Professors Sredni and Albeck and
to use their vast knowledge and experience with Tellurium based
compounds. Based on some preliminary studies we believe we are able
to combine Tellurium based compounds and other components of Qrons
technology to deliver a much needed, superior treatment for Sepsis
and explore treatment possibilities for the unmet medical need of
diffused axonal brain injuries.”
Jonah Meer, CEO commented, “We are pleased to partner with
Professors Sredni and Albeck, two leading scientists in their
field, to combine their groundbreaking IP with ours to treat
Sepsis, a huge unmet medical need as well as advanced our ongoing
research in TBIs. This Agreement aligns with our stated corporate
approach and goals, and can provide an expedited timeline to
commercialization.”
About Qrons Inc.
Headquartered in New York City, with research centered in Israel,
Qrons is an innovative biotechnology company dedicated to
developing products, treatments and technologies to combat neuronal
and infectious diseases. Qrons' approach is to seek to engage in
strategic arrangements with companies and institutions that are
developing unique know how and intellectual properties in the
fields of, stem cells, drug development and tissue engineering, for
deployment in the fight against neuronal and infectious diseases
and other related indications. Our search is focused on researchers
based in Israel, a country which is world-renowned for biotech
innovations.
Forward Looking Statement
This press release includes "forward-looking statements." Any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. In addition,
any statements that refer to other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intends," "may,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. These forward-looking
statements involve significant risks and uncertainties that could
cause the actual results to differ materially from the expected
results and, consequently, you should not rely on these
forward-looking statements as predictions of future events. These
forward-looking statements and factors that may cause such
differences include, without limitation, future capital
requirements, regulatory actions or delays and other factors that
may cause actual results to be materially different from those
described or anticipated by these forward-looking statements. The
foregoing list of factors is not exclusive. For a more detailed
discussion of these factors and risks, investors should review the
Company's filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
We undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
Contact: Qrons Inc.
Jonah Meer, Chief Executive Officer
212-945-2080
Qrons (QB) (USOTC:QRON)
Historical Stock Chart
From Aug 2024 to Sep 2024
Qrons (QB) (USOTC:QRON)
Historical Stock Chart
From Sep 2023 to Sep 2024