CYTO NK-201

FORT COLLINS, Colo., March 15, 2023 (GLOBE NEWSWIRE) -- Statera Biopharma, Inc. (OTCPK:STAB) (the "Company" or "Statera Biopharma"), a biopharmaceutical company creating next-generation immune therapies that focus on immune restoration and homeostasis, is pleased to announce it has entered into a non-binding letter of intent (the "LOI") with Worksite Labs, Inc. ("WSL"), setting out the initial proposed terms and conditions pursuant to which the Company and Worksite Labs intend to affect a business combination by a merger structure to be determined involving the Company, one or more merger entities of the Company and WSL (the "Proposed Transaction"). “We believe the proposed merger could enhance shareholder value and strengthen the company’s operating performance,” commented Michael K. Handley, Chief Executive Officer of Statera Biopharma. “The business model and mission of Worksite Labs aligns with our current strategies to diagnose and identify patients for treatment and increase shareholder value. “Furthermore, we look forward to working with our WSL colleagues to move the proposed transaction forward.” The entities resulting from the Proposed Transaction are expected to continue to carry on the business of WSL as a premier, full-service diagnostic testing company that generated 2022 revenues of over $50 million (unaudited). The Company intends to issue a subsequent news release with additional details regarding the Proposed Transaction, including the proposed capitalization of the Company on a post-merger basis, upon execution of the definitive agreements. “We are excited to announce the signing of the non-binding LOI with Statera Biopharma,” stated Gary Frazier, Chief Executive Officer of Worksite Labs. “We believe Worksite Labs is the leader in delivering diagnostic services to businesses and individuals in a decentralized model. By undertaking this transaction, Worksite Labs will have access to the capital markets which accelerates our business operations and acquisition strategy to ultimately fulfill our mission of creating more access and giving people greater power over their well-being.” Completion of the Proposed Transaction is subject to, among other matters, the completion of due diligence, the negotiation of definitive agreements providing for the Proposed Transaction, and satisfaction of a number of conditions negotiated therein, including, but not limited to regulatory approvals including FINRA, and board of directors’ and shareholder approvals. There can be no assurance that the parties will successfully negotiate and enter into definitive agreements regarding the Proposed Transaction, or that the Proposed Transaction will be completed as currently contemplated, or at all. About Worksite Labs Worksite Labs is a decentralized healthcare testing and diagnostics company that delivers fast, reliable results by placing full-service labs where they are needed most. It uses technology, innovation and logistical expertise to disrupt current industry practices, giving customers superior access to healthcare services so they can make informed decisions about their well-being. Based in Long Beach, California, the company operates labs in 20 major cities and seven states. About Statera Biopharma Statera Biopharma is a clinical-stage biopharmaceutical company developing novel immunotherapies targeting autoimmune, neutropenia/anemia, emerging viruses, and cancers based on a proprietary platform designed to rebalance the body's immune system and restore homeostasis. Statera has one of the largest platforms of toll-like receptor (TLR) agonists in the biopharmaceutical industry with TLR4 and TLR9 antagonists, and the TLR5 agonists, Entolimod and GP532. TLRs are a class of protein that plays a key role in the innate immune system. Statera is developing therapies designed to directly elicit within patients a robust and durable response of antigen-specific killer T-cells and antibodies, thereby activating essential immune defenses against autoimmune, inflammatory, infectious diseases, and cancers. Statera has clinical programs for Crohn's disease (STAT-201), hematology (Entolimod), Cancer T-cell exhaustion and COVID-19 (STAT-205) in addition to potential expansion into other autoimmue diseases. To learn more about Statera Biopharma, please visit www.staterabiopharma.com. Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of current or historical fact contained in this press release, including statements regarding the Proposed Transaction and its expected benefits, are forward-looking statements. The words "anticipate," "believe," "continue," "should," "estimate," "expect," "intend," "may," "plan," "project," "will," and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements on the current expectations about future events held by management. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond the Company's control. The company's actual future results may differ materially from those discussed here for various reasons and the Proposed Transaction described may not be consummated. The Company discusses many of these risks under the heading "Risk Factors" in its annual report on Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on October 6, 2022, as updated by the company's other filings with the SEC, and in the preliminary and definitive proxy statement that the Company intends to file with the SEC in connection with the Proposed Transaction. Factors that may cause such differences include, but are not limited to, the inability of the Company to enter into definitive agreements with respect to the Proposed Transaction; the expected performance of WSL’s business; the risk that the approval of the shareholders of the Company or WSL for the Proposed Transaction are not obtained; failure to realize the anticipated benefits of the Proposed Transaction; and the Company’s and WSL’s ability to satisfy the conditions to closing the Proposed Transaction. Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.

FORT COLLINS, CO / ACCESSWIRE / January 24, 2023 / Statera Biopharma, Inc. (NASDAQ:STAB) (the "Company" or "Statera Biopharma"), a biopharmaceutical company creating next-generation immune therapies that focus on immune restoration and homeostasis, is pleased to announce it has completed the application process for moving off the OTC Pink Sheets and uplisting to the OTCQB® Venture Marketplace. The application process will not guarantee acceptance of the Company's submission by OTC MARKETS from the PINKS to OTCQB. This is the Company's first step in its pursuit to regain its listing on the NASDAQ exchange. The Company believes that the move to the OTCQB will provide enhanced investor benefits, including higher reporting standards, greater access to analyst coverage and news services, and more comprehensive compliance requirements. The OTCQB is considered by the Securities and Exchange Commission (SEC) as an "established public market" for determining the public market price when registering securities for resale with the SEC. "Uplisting to the OTCQB is the first step in ultimately regaining our listing on the NASDAQ exchange," said Michael K. Handley Handley, President & Chief Executive Officer of Statera Biopharma. "It will be a significant milestone in the transition of the Company. We have also retained CG Capital as our advisor to support our efforts in enhancing visibility in the investment community, increasing trading liquidity, opening the Company to institutional investors, and broadening STAB's shareholder base. We are committed to providing investors with high-quality trading and improved market visibility and are excited to showcase our achievements to a growing base of U.S. and international investors." About Statera Biopharma Statera Biopharma (formerly Cytocom, Inc.) is a clinical-stage biopharmaceutical company developing novel immunotherapies targeting autoimmune, neutropenia/anemia, emerging viruses, and cancers based on a proprietary platform designed to rebalance the body's immune system and restore homeostasis. Statera has one of the largest platforms of toll-like receptor (TLR) agonists in the biopharmaceutical industry with TLR4 and TLR9 antagonists, and the TLR5 agonists, Entolimod and GP532. TLRs are a class of protein that plays a key role in the innate immune system. Statera is developing therapies designed to directly elicit within patients a robust and durable response of antigen-specific killer T-cells and antibodies, thereby activating essential immune defenses against autoimmune, inflammatory, infectious diseases, and cancers. Statera has clinical programs for Crohn's disease (STAT-201), hematology (Entolimod), pancreatic cancer (STAT-401) and COVID-19 (STAT-205) in addition to potential expansion into fibromyalgia and multiple sclerosis. To learn more about Statera Biopharma, please visit . Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of current or historical fact contained in this press release, including statements regarding the Company's expected clinical development timeline for the Company's product candidates, future financial position, business strategy, new products, budgets, liquidity, cash flows, projected costs, regulatory approvals, the impact of any laws or regulations applicable to the company, and plans and objectives of management for future operations, are forward-looking statements. The words "anticipate," "believe," "continue," "should," "estimate," "expect," "intend," "may," "plan," "project," "will," and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements on the current expectations about future events held by management. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond the Company's control. The company's actual future results may differ materially from those discussed here for various reasons. The Company discusses many of these risks under the heading "Risk Factors" in the proxy statement/prospectus filed with the SEC on June 10, 2021, as updated by the company's other filings with the SEC. Factors that may cause such differences include, but are not limited to, the outcome of any legal proceedings that have been or may be instituted against the company related to the merger between Cleveland BioLabs and Cytocom; unexpected costs, charges or expenses resulting from the merger; the Company's need for additional financing to meet the Company's business objectives; the Company's history of operating losses; the Company's ability to successfully develop, obtain regulatory approval for, and commercialize the Company's products in a timely manner; the Company's plans to research, develop and commercialize the Company's product candidates; the Company's ability to attract collaborators with development, regulatory and commercialization expertise; the Company's plans and expectations with respect to future clinical trials and commercial scale-up activities; the Company's reliance on third-party manufacturers of the Company's product candidates; the size and growth potential of the markets for the Company's product candidates, and the Company's ability to serve those markets; the rate and degree of market acceptance of the Company's product candidates; regulatory requirements and developments in the United States, the European Union and foreign countries; the performance of the Company's third-party suppliers and manufacturers; the success of competing therapies that are or may become available; the Company's ability to attract and retain key scientific or management personnel; the Company's historical reliance on government funding for a significant portion of the Company's operating costs and expenses; government contracting processes and requirements; the exercise of significant influence over the Company's company by the Company's largest individual stockholder; the impact of the novel coronavirus ("COVID-19") pandemic on the Company's business, operations and clinical development; the geopolitical relationship between the United States and the Russian Federation as well as general business, legal, financial and other conditions within the Russian Federation; the Company's ability to obtain and maintain intellectual property protection for the Company's product candidates; the Company's potential vulnerability to cybersecurity breaches; and other factors discussed in the Company's SEC filings, including the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and the risk factors discussed under the heading "Risk Factors" in the proxy statement/prospectus the company filed in connection with the merger on June 10, 2021. Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments. Investor Relations Contact: Rich Cockrell CG CAPITAL ir@staterabiopharma.com SOURCE: Statera Biopharma View source version on accesswire.com: