Sean Martin, CEO of GASE, commented "We are extremely excited to be rebranding Gase Energy into the biotechnology business and merging with a promising oncology company focused on minimally toxic treatments for cancer patients.
HARTFORD, Conn., July 22, 2021 (GLOBE NEWSWIRE) -- Gase Energy, Inc. (OTCIQ: GASE) have announced the signing of a Letter of Intent for a merger with Curadox Biopharma, Inc. (CBI), a pharmaceutical company specializing in research and development of drugs designed to target and destroy diseased/infected cells, particularly drug-resistant cancer cells.
Sean Martin, CEO of GASE, commented "We are extremely excited to be rebranding Gase Energy into the biotechnology business and merging with a promising oncology company focused on minimally toxic treatments for cancer patients. The CBI platform technology, which shows promise with many cancers, has shown compelling results through in vitro testing performed by the National Cancer Institute, multiple clinical trials in humans, as well as having been approved for Compassionate Use by the FDA. We look forward to a successful merger and working closely with the experienced management team at CBI to move their portfolio of drugs forward."
David Barshis, CEO of CBI also stated "We look forward to the merger with GASE in order to leverage the OTC markets and beyond to raise funding adequate for the program execution through IND submission and Phase 2 clinical trials, representing a compelling opportunity for the Company.“ The CBI technology utilizes the binding of transferrin (TRF) to an existing chemotherapeutic agent, doxorubicin (DOX), to create the TRF-drug conjugate that specifically targets abnormal cells such as those affected by cancer or viral infection, uniquely characterized by an increased number of transferrin receptors on their surface, to initiate killing of the infected cells while sparing normal cells that have far fewer transferrin receptors. CBI anticipates the TRF-DOX Conjugate/CD-TD1 program to qualify for regulatory review as a biological product (BLA) as well as for orphan drug status.
About Gase Energy, Inc.
Gase Energy Inc. (OTCIQ: GASE) GASE Energy, Inc. (the “Company”) was incorporated under the name Epsilon Corp. in Delaware on October 17, 2011. The Company changed its name to Great East Energy, Inc. on September 10, 2013, and to Gase Energy, Inc. on June 13, 2014. The Company's business plan is raising capital for acquisition and development purposes.
About Curadox BioPharma, Inc.
Curadox BioPharma, Inc. a private company, incorporated in Nevada, is a pharmaceutical company specializing in research and development of drugs designed to target and destroy diseased/infected cells, particularly drug-resistant cancer cells. The Company’s lead development program, CB-TD1 for the treatment of drug-resistant cancers is based on a “platform technology” for transferrin-drug conjugates. To learn more about Curadox BioPharma, Inc., visit www.curadox.com.
Forward Looking Statements
Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Sean Martin, Marketing and Communications, Gase Energy, Inc.