Claritas Pharmaceuticals Inc V.CLAS.H

Alternate Symbol(s): CLAZF

Healthcare

Claritas Pharmaceuticals, Inc., formerly Kalytera Therapeutics Inc, is a biotechnology company that is focused on developing R-107 for the treatment of vaccine-resistant coronavirus disease (COVID) strains. The Company’s products in development include R-107 for coronavirus disease and Viral Infections, R-107 and Vaccines, and CLA-1816 for treatment of pain. R-107 is designed to defeat COVID viruses on contact. R-107 targets the Achilles heel of COVID, the spike protein on the surface of the virus. R-107 releases nitric oxide, which attaches to a specific amino acid on the spike protein, thereby disabling the spike protein. The CLA-1816 provides effective pain reduction, without the risks of addiction or respiratory suppression that exist with opioid analgesics. CLA-1816 strongly binds with and activates the alpha3 glycine pain receptor in the spine. The Company has leased a laboratory, office, and archival space in Beverly, Massachusetts.

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Claritas Pharmaceuticals Inc > NR highlights

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Comment by PTBaileyon Oct 19, 2021 10:50am

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Post# 34022380

RE:RE:NR highlights

Chritters wrote: So what Now? Wait to hear about Phase 1 starting News Release?

PTBailey wrote:
Highlights

Claritas received aggregate proceeds of approximately CAD $1,247,000 (the “Aggregate Proceeds”) from the closing.

Subject to the satisfaction of certain equity conditions, entry into the relevant agreements between the parties, and TSXV approval, a second tranche of the Offering may close in 90 days to provide additional proceeds of USD $750,000 (“Tranche 2”) and a third tranche may close 120 days following the closing of Tranche 2 to provide additional proceeds of approximately USD $1,250,000 (“Tranche 3”).

The Aggregate Proceeds will be allocated primarily to the cost of the Phase 1 clinical study of R-107, as well as for general corporate purposes.

“We are delighted to announce this transaction with Obsidian, which will enable the Company to move forward with and accelerate our Phase 1 clinical study of R-107,” said Robert Farrell, Claritas’ President and CEO. “We expect to complete the Phase 1 clinical study by Q1 next year, and thereafter we will initiate a Phase 2a clinical study of R-107 in treatment of pulmonary arterial hypertension (“PAH”), and seek funding under a BARDA contract from the U.S. Department of Health and Human Services for a Phase 2a clinical study of R-107 in hospitalized patients diagnosed with COVID-19 related sepsis.”