Verisante Technology, Inc. Announces Proposed RTO with SunRegen Healthcare AG

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[{"type":"text","content":"Verisante Technology, Inc. Announces Proposed RTO with SunRegen Healthcare AGVANCOUVER, BC / ACCESSWIRE / August 13, 2024 / Verisante Technology, Inc. (TSX-V:VER.H) (\"Verisante\") is pleased to announce that it has entered into a binding Letter of Intent (\"LOI\") dated August 12, 2024, to acquire a 100% interest in SunRegen Healthcare AG (\"SunRegen\"), a Swiss pharmaceutical company, by way of a Definitive Share Exchange Agreement which is yet to be negotiated between the parties. The proposed transaction is a Reverse Takeover (\"RTO\") pursuant to Policy 5.2 of the TSX Venture Exchange and the resulting issuer intends to qualify as a Tier 2 Life Sciences Issuer.About SunRegenSunRegen is a Swiss pharmaceutical company focused on the development of neurodegenerative related drugs. Currently, they are focusing on the development of their lead compound, SBC003, for the treatment of neuronal apoptosis-related diseases, starting with ophthalmic neurodegenerative diseases and gradually expanding to the treatment of CNS neurodegenerative diseases.SunRegen intends to start in the ophthalmic field by applying for FDA drug approval for the treatment of Retinitis Pigmentosa (\"RP\"), and then expanding to the treatment of dry AMD and other degenerative diseases. The leading drug candidate, SBC003, has demonstrated neuro-rescuing and neuroprotection through in-vitro & in-vivo experiments, and has the ability to treat neurodegenerative diseases by directly targeting the causes. SunRegen has been issued a patent for its SBC003 drug compound across eight countries including the US, Canada, Japan and China, and has two more international patent applications pending.RP is a hereditary family disease. Patients usually catch this disease at a young age, and it is generally manifested as apoptosis of peripheral retinal rod cells. At present, Luxturna® (Voretigene Neparvovec) is the only approved RP Therapy to treat a small subset ofpatients with RPE65 mutations, accounting for 0.3%-1% of the total number of RP patients. The vast majority of RP patients cannot obtain effective treatment. Management estimates there are approximately 2 million RP patients worldwide.According to Data Bridge Market Research the global RP market was worth US$11.57 billion and forecast to grow at a CAGR of 7.3% to reach US$20.33 billion by 2029. (https://www.d...

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