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Kalytera Announces Further Issuance of Shares under Services Agreement with Salzman Group
Kalytera Announces Further Issuance of Shares under Services Agreement with Salzman Group.
About this update from Claritas Pharmaceuticals Inc.
[{"type":"text","content":"\n\n SAN FRANCISCO and TEL AVIV, Israel, Feb. 23, 2018 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE:KALY) (OTCQB:KALTF) (the \"Company\" or \"Kalytera\") today announced that the Company has elected to issue 513,818 common shares of the Company (“Common Shares”) to The Salzman Group in payment of a further invoice issued under the services agreement with The Salzman Group previously announced on December 7, 2017 (the “Agreement”).  Under the Agreement, The Salzman Group provides, among other services, clinical study management services in relation to the Phase 2 study evaluating the use of cannabidiol in the prevention of graft versus host disease.\n The invoice owing to The Salzman Group is in the amount of US$112,798 (or C$143,354.98 based on the daily average exchange rate for February 22, 2018 published by the Bank of Canada).  The number of Common Shares to be issued is based on a deemed issue price of C$0.279 per Common Share, being 90% of the closing price of the Common Shares on the TSXV on February 22, 2018, the trading day prior to the Company’s election to pay the debt in Common Shares.   The Common Shares are expected to be issued to The Salzman Group on or about February 28, 2018. About Kalytera TherapeuticsKalytera Therapeutics, Inc. (\"Kalytera\") is pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical needs, with an initial focus on graft versus host disease (“GVHD”). Kalytera also intends to develop a new class of proprietary cannabidiol (\"CBD\") therapeutics. CBD is a versatile compound that has shown activity against a number of pharmacological targets. However, there are limitations associated with natural CBD, including its poor oral bioavailability. Kalytera will seek to develop innovative CBD formulations and prodrugs in an effort to overcome these limitations, and to target specific disease sites within the body. Kalytera intends to file composition of matter and method of use patents covering its novel inventions, with the goal of limiting future competition. Website Home:...