Connectyx Technologies Holdings Group, Inc. (OTCMKTS: CTYX) is heating up and moving northbound in recent trading after a brief dip below the $0.01 mark. RM stocks have been some of the biggest movers in small caps in recent years and CTYX has been no exception running out of sub penny land to highs near $0.03.
CTYX has quickly attracted a fast growing shareholder base that includes some old time prospectors that have a knack for picking the right runners. Paul M. Michaels a business whizz recently acquired a controlling interest in Connextyx and shareholders are anticipating big things. Management has been busy behind the scenes updating financials to uplist to OTCQB.
Connectyx Technologies Holdings Group, Inc. (OTCMKTS: CTYX) is a development stage biomedical company that seeks to develop, in-license, sub-license and bring to market products in both the Pharmaceutical and Medical Device space. The Company focuses on products that are targeted at FDA-defined “Orphan Diseases” with patient populations under 200,000 in the United States. The company is leveraging management’s experience and business relationships with Life Science development associations as well as Life Science-focused venture capital firms to acquire Life Science candidates that fit within the company’s business model. The company has established a scientific advisory board with a successful track record of bringing pharmaceuticals to market.
Earlier this year Connextyx saw a change of control as SunMed Advisors, LLC acquired majority control of CTYX through the purchase of Series A Preferred stock from the two principal holders of CTYX. Jon Pevzner resigned and Paul M. Michaels was appointed Interim CEO and Director. Dr. Barry A. Ginsberg and Brandon Michaels join Mr. Michaels on the Board. SunMed Advisors is a Life Science and Technology consulting firm that helps create maximum corporate value with strategic initiatives and a leading advisor on Pre-Commercial and Commercial-Stage licensing deals. SunMed brings value to all stages of licensing transactions, from sourcing through closing. Paul M. Michaels is a busines whizz, responsible for opening up the Japanese market to US drug companies. He was instramental in internatianl transactions that influenced companies such as Celgene Corporation, Sumitomo Pharmaceuticals, Nobelpharma Co., Ltd, Teva Pharmaceuticals, ICOS, Neurocrine, Cell Therapeutics and Gilead, to name just a few. Paul has also provided financial leadership for almost 18 years to Inabata & Co. Ltd., one of Japan’s largest trading companies with $4.5 billion in annual sales and successfully licensed multiple drugs from Gilead (formerly Nexstar Pharmaceuticals). Paul M Michaels is a Harvard business graduate and founder of Sunmed Advisors and NobelPharma (a possible incoming business into CTYX).
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CTYX is currently listed as PinkCurrent on OtcMarkets and is planning to up-list to fully reporting OTCQB. The Company has appointed Jonathan D. Leinwand, PA as Legal Counsel. CTYX will continue to update shareholders on a new business plan through news releases, website updates and OTCMarkets filings as the company moves forward.
In August Connextyx signed a term sheet with Mid-Atlantic BioTherapeutics, Inc. (MABT) to acquire all necessary rights for the development of IMT504, a novel, patented immunotherapy, to treat symptomatic rabies worldwide. IMT504 is being developed to treat patients whose disease has progressed beyond the stage where it can be treated by the existing approved rabies vaccines. Importantly, IMT504 has been granted orphan drug designation in the US, which provides significant benefits including tax credits, market exclusivity and waiver of certain FDA fees. The transaction is expected to close within 60 days. Mid-Atlantic BioTherapeutics was founded in 2011 with the mission of eradicating infectious diseases. MABT is a clinical-stage pharmaceutical company focused on the clinical development and commercialization of novel anti-infective approaches, such as the patented IMT504 technology platform that harnesses the body’s own immune response to fight off infections. The company is actively addressing the growing antibiotic resistance problems and creating a revolutionary treatment paradigm for bacterial and viral diseases, emerging infectious diseases and biodefense.
Paul M. Michaels, Connectyx CEO said: “This strategic relationship provides an example of how the Company plans to grow our rare diseases product pipeline through a combination of acquisitions, in-licensing and sub-licensing of new technologies.”
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Currently on the move northbound CTYX is an exciting story developing in small caps; earlier this year Connextyx saw a change of control as SunMed Advisors, LLC acquired majority control of CTYX through the purchase of Series A Preferred stock from the two principal holders of CTYX. Jon Pevzner resigned and Paul M. Michaels was appointed Interim CEO and Director. Paul M. Michaels is a business whizz, responsible for opening up the Japanese market to US drug companies. He was instrumental in providing financial leadership for almost 18 years to Inabata & Co. Ltd., one of Japan’s largest trading companies with $4.5 billion in annual sales and successfully licensed multiple drugs from Gilead. CTYX has quickly attracted a fast growing shareholder base that includes some old time prospectors that have a knack for picking the right runners. We will be updating on CTYX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CTYX.
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Disclosure: we hold no position in CTYX either long or short and we have not been compensated for this article.