ENZOLYTICS REFUTES CLAIMS

ALLEN, TX / OTC Markets / October 24,  2024 / Enzolytics, Inc. (OTC PINK:ENZC) (enzolytics.com"enzolytics.com”)(the “Company” or “ENZC”) today became aware  of a recent Press Release put out by a company known as NIKA Pharmaceuticals, controlled by Dimitar Savov.  Harry Zhabilov, the inventor of the patented ITV-1, and Chief Science Officer of Enzolytics as well as the currently private Sagaliam Acquisition Corp, categorically denies all representations made by NIKA and Savov.

ITV-1 is a patented technology owned exclusively by the Zhabilov Trust and licensed to Sagaliam Acquisition Corp through Virogentics, Inc.  Enzolytics' shareholders are shareholders of Sagaliam Acquisition Corp.  All parties are in complete agreement that the representations made by NIKA are completely false, misleading, and impede Enzolytics, the Zhabilov Trust, Virogentics, Inc. and Sagaliam Acquisition Corporation’s ability to do business. No investor should rely on the statements made by NIKA.  ITV-1 is the sole property of the Zhabilov Trust and licensed only to Sagaliam.  Any other claim of ownership or licensing is untrue.

About Enzolytics, Inc.

Enzolytics, Inc. is transitioning from solely a drug development company committed to commercializing its proprietary proteins and monoclonal antibodies to treat debilitating infectious diseases to include the additional contracted service areas of sales, marketing and distribution focusing on medical devices, medical testing and nutraceutical products.

Forward Looking Statements

The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations, Company’s ability to enter into a definitive business combination agreement and Company’s ability to obtain the financing necessary to consummate the potential business combination transaction. These statements are based on various assumptions and on the current expectations of Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Company. These forward-looking statements are subject to a number of risks and uncertainties, including: Company’s ability to enter into a definitive agreement with respect to the proposed business combination or consummate a transaction; the risk that the approval of the stockholders of Company for the potential transaction is not obtained; failure to realize the anticipated benefits of the potential transaction, including as a result of a delay in consummating the potential transaction or difficulty in integrating the businesses of Company; the amount of redemption requests made by Company’s stockholders and the amount of funds remaining in Company’s trust account after satisfaction of such requests; those factors discussed in Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 under the heading “Risk Factors,” and other documents of Company filed, or to be filed, with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Company presently does not know or that Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Company’s expectations, plans or forecasts of future events and views as of the date hereof. Company anticipates that subsequent events and developments will cause Company’s assessments to change. However, while Company may elect to update these forward-looking statements at some point in the future, Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Company’s assessments as of any date subsequent to the date of this disclosure statement. Accordingly, undue reliance should not be placed upon the forward-looking statements.

CONTACT INFORMATION

Enzolytics, Inc.

Diana Zhabilov, Chief Executive Officer

1101 Raintree Circle, Suite 130
Allen, Texas 75013