Dextran sulfate sodium(TikoMed AB)

Polydex Pharmaceuticals Limited (OTC Pink: POLXF) (the “Company” or “Polydex”) announced today that it has entered into a Plan of Arrangement agreement (the “Arrangement Agreement”) whereby BioSpectra, Inc. and BioSpectra Canada, Ltd (together, “BioSpectra”) will acquire all of the outstanding common and preferred shares of the Company for total consideration of $6,940,000, of which US$6,924,980.02 will be paid for 3,432,478 common shares outstanding and US$15,019.98 will be paid for 899,400 Class B Preferred shares outstanding. The price per common share is US$2.017. Under the Arrangement Agreement the transaction will be effected pursuant to a statutory plan of arrangement (the “Arrangement”) under section 182 of the Ontario Business Corporations Act (the “OBCA”). The Arrangement will result in each issued and outstanding share of Polydex being deemed transferred to BioSpectra by each Polydex shareholder, without any further act or formality on the part of the Polydex shareholder, and each Polydex shareholder shall receive the Consideration in exchange for their shares. The Board of Directors of the Company has received a fairness opinion from Evans & Evans, Inc., an independent consultant that provides business valuations. The fairness opinion supports the terms of the Arrangement and the Consideration as fair to the Company’s shareholders. The Board has approved the Arrangement and the Arrangement Agreement. The Company will seek an interim order approving the deal from the Ontario Court of Justice. Following receipt of a favorable interim order, the Company will call a meeting of shareholders to obtain shareholder approval. Shareholders will receive a Notice of Meeting and Information Circular prior to such meeting. The Board of the Company unanimously recommends approval of the transaction. If the Arrangement is approved by shareholders at the shareholder meeting, the Company will then seek a final order from the Ontario Court of Justice approving the Arrangement and authorizing its closing. George Usher, the President and CEO of Polydex commented that “We are extremely pleased with the transaction we have struck with BioSpectra. This transaction comes as a conclusion to a long process undertaken by the Board to enhance shareholder value. We have studied multiple options and believe this is the best one for our shareholders.” Polydex, based in Toronto, Ontario, is engaged in the manufacturing of bulk pharmaceutical intermediates for the worldwide veterinary pharmaceutical industry and also the development, manufacturing and marketing of biotechnology-based products for the human pharmaceutical market. The Company focuses on the manufacture and sale of Dextran and derivative products, including Iron Dextran and Dextran Sulphate and other specialty chemicals. The Company conducts its business operations through its two wholly-owned subsidiaries/divisions. The manufacture and sale of Dextran and derivative products is conducted through Dextran Products and Chemdex Inc. which is incorporated in the State of Kansas, United States. The content above comes from the network. if any infringement, please contact us to modify.

VIKEN, Sweden, Sept. 7, 2022 /PRNewswire/ -- TikoMed today announced the inclusion in bioRxiv* of an in vitro study examining the ability of the company's lead drug candidate ILB® to inhibit infection of human cells by four serotypes of Dengue virus (DENV1-4), two strains of Zika virus (African and Asian) and Yellow Fever virus (vaccine strain YF17D) assessed by immunofluorescence of viral particles. In the study, ILB® potently inhibited infection by all the strains of Dengue, Zika and Yellow Fever virus in a concentration-dependent manner with IC50 for ILB® ranging from 31 to 343 μg/ml. Professor Nicholas Barnes PhD PBPhS (Professor of Pharmacology & CEO, Celentyx Ltd, and one of the world's most highly cited researchers ) commented: "It is well recognised that infection by flaviviruses like Dengue, Zika and Yellow Fever virus can lead to catastrophic life-threatening conditions. This emphasises the clinical need for safe and effective medicines to treat these infections. What I find particularly exciting about these results is the effects observed at ILB® concentrations that have been achieved in humans following doses that have been well tolerated. These findings offer hope to the millions of patients that continue to be devastated by flavivirus infections." TikoMed recently announced the publication of a peer-reviewed, scientific article on the mode of action of ILB®. In multiple preclinical and clinical studies across a variety of neuroinflammation-driven diseases. ILB® both mobilized and modulated naturally occurring tissue repair mechanisms, released heparin-binding growth factors, and restored cellular homeostasis and function. "These results provide further evidence of the anti-viral potential and unique broad spectrum mechanism of action of TikoMed's ILB® drug platform. We have already initiated clinical development programs for Amyotrophic Lateral Sclerosis (ALS), Traumatic Brain Injury (TBI) and islet cell transplantation and plan to consider additional evaluation in other diseases," said Anders Kristensson, CEO of TikoMed. *bioRxiv is a free online archive and distribution service for unpublished preprints in the life sciences. It is operated by Cold Spring Harbor Laboratory, a not-for-profit research and educational institution. By posting preprints on bioRxiv, authors are able to make their findings immediately available to the scientific community and receive feedback on draft manuscripts before they are submitted to journals. For full study details on "A clinical stage LMW-DS drug inhibits infection of human cells by Dengue, Zika and Yellow Fever viruses", please access the publication: . About flaviviruses Flaviviruses are responsible for the most abundant arboviral diseases of humans in terms of geographical distribution, morbidity and mortality; at least 2.5 billion people are at risk with, for example, an estimated 100-400 million Dengue infections a year. However, for infections by Dengue, Zika or Yellow Fever virus there are no effective anti-infective drug treatments nor for Dengue or Zika virus a safe effective vaccine and prevention at present focusses on vector (mosquito) control. Whilst symptoms from Dengue, Zika and Yellow Fever virus infection may be mild for some, they are very serious and life threatening for others. For instance, severe Dengue is a leading cause of hospitalisation and death among children and adults in Asian and Latin American countries. Likewise, Zika infection can have catastrophic consequences for pregnant women following the passing of the virus to their foetus with arising miscarriage or birth defects including microcephaly that can be fatal. CONTACT: Contact: [email protected] or +46 42 23 84 40 Media: International: Richard Hayhurst [email protected] or +44 7711 821527 Nordics: Ola Bjorkman [email protected] or +46 70 245 7497 This information was brought to you by Cision SOURCE Tikomed