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Saturday, December 3, 2022

What Happened to Mount Tam Biotechnologies Inc (OTCMKTS:MNTM)

Mount Tam Biotechnologies Inc (OTCMKTS:MNTM) recently made a huge move up from a $0.077 start at the beginning of October to recent highs of $1.48 a share.

MNTM came into being via a reverse merger in August of this year with Tabacaleraysidron Inc. Shortly before the merger took place the Company affected a 5.75 for 1 reverse stock split.

Mount Tam Biotechnologies Inc (OTCMKTS:MNTM) bills itself as an emerging biotechnology firm investigating the potential for inhibiting the mTOR pathway for the treatment of auto-immune diseases such as Lupus. The Company was established to develop, optimize and bring to market innovative medicines to better the health and well-being of millions of people who have been affected by autoimmune diseases. The organization’s most advanced product focuses on the treatment of SLE.

MNTM first investigational drug, TAM-01, is a novel mTOR inhibitor which has been optimized for the treatment of systemic lupus erythematosus (SLE), the most common form of Lupus. Licensed from The Buck Institute for Aging, this is the first molecule utilizing the Company’s unique mechanism for mTOR inhibition, and the Company is currently investigating additional applications for its proprietary platform technology.

TAM-01 has been shown to be efficacious in pre-clinical animal models of SLE while significantly reducing or abolishing the undesirable side effects of other known mTOR inhibitors such as rapamycin. The Company is currently preparing to conduct investigational new drug (“IND”) safety studies on TAM-01, with the intention of filing an IND application with the FDA shortly.

On October 15 MNTM announced the appointment of Brian Kennedy, Ph.D., CEO of The Buck Institute for Aging, as Chairman of its Board of Directors. Dr. Kennedy’s world-renowned research in the biology of aging began when he was a doctoral student at MIT. Under the guidance of MIT Professor Leonard Guarente, he contributed to the first studies to show that a class of proteins called Sirtuins influence aging. Currently he studies the pathways that modulate longevity in life forms ranging from yeast to mice.

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A major focus of his current research is to study the mammalian target of the rapamycin (mTOR) pathway. mTOR generated excitement in the age research field when it was shown recently that the drug rapamycin can extend lifespan in mice.

CEO Timothy Powers, Ph.D commented “It is fitting that Dr. Kennedy take on the role as our chairman, as we maintain a close relationship with The Buck Institute, where we have licensed our initial technology, and maintain an exclusive license for autoimmune diseases” said Timothy Powers, Ph.D., CEO of Mount Tam. “His dedication to The Buck Institute’s mission to find connections between the natural process of aging and chronic diseases, combined with his intimate understanding of the mTOR pathway, create a powerful synergy that will help drive Mount Tam forward. We look forward to both unparalleled scientific breakthroughs, and measurable business success.”

According to MNTM Lupus is a chronic autoimmune disease involving many systems in the human body. The biologic basis of the disease is a defect in the body’s own immune system, leading to the over production of autoantibodies that attack normal organs and tissues and causing irreversible damage. This results in symptoms such as inflammation, swelling, and damage to joints and almost every major organ in the body, including the heart, kidneys, skin, lungs, and brain. According to the Lupus Foundation of America, 1.5 million Americans have the disease with more than 16,000 new cases diagnosed each year. The majority of patients are women of childbearing years.

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Currently racing up the charts on fast accelerating volume MNTM has minimal assets, no revenues to date and rising short term debt. The stock being liquidated into the campaign are likely the 15,783,750 shares (as adjusted for the 5.75 for 1 reverse split) acquired by a group of Investors for just $274,500 now worth an estimated $18 million at current market values. Short term MNTM could be good for a big move, long term the Company lacks fundamentals and will surely collapse from current levels. We will be updating on MNTM when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MNTM.

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Disclosure: we hold no position in MNTM either long or short and we have not been compensated for this article.

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