Skymount Medical Page 49 of the June 24, 2021 Satellos / iCo Therapeutics PROPOSED PLAN OF ARRANGEMENT
"iCo is currently exploring partnering options and pursuing funding sources to initiate its intended Phase 2 trial of iCo 019 during 2021. On December 31, 2020 iCo announced that it had executed a non-binding Memorandum of Understanding with Skymount Medical Inc. (“Skymount”) to develop iCo-019. Skymount agrees to initially commit up to US$550,000 to the iCo-019 program. These funds will support preclinical studies assessing iCo-019’s potential as a treatment for infections related to COVID-19. There is potential to expand the scope of this collaboration in the future based on certain events and circumstances. Negotiations with Skymount are ongoing and iCo is continuing to solicit additional investors to fund expansion of its Oral Amp B program."
"The Skymount Medical team is honored to be collaborating with iCo to improve global public health for COVID and other indications. We are also excited by the prospect of our collaboration and the possibilities for bringing new pharmaceuticals into the market with a game-changing delivery technology," noted Zubin Kothawala, the Chief Executive Officer of Skymount Medical. [game-changing delivery technology is OralTransTM]
https://www.newsfilecorp.com/release/71207/iCo-Therapeutics-Announces-Joint-Development-of-iCo019-with-Skymount-Medical