Coronavirus / Biotech Stock News Bites - Reign Resources Corporation Approves Sigyn Therapeutics Merger - CEO of Sigyn former CEO of Aethlon Medical (NASDAQ: $AEMD)
New Medical technology company focused on the treatment of life-threatening inflammatory conditions
LOS ANGELES, CA - September 10, 2020 (Investorideas.com Newswire) Coronavirus /Biotechnology (COVID-19) Stock News Bites - Reign Resources Corporation ("Reign") (OTCMARKETS: RGNP) announced today that the Company has approved a share exchange agreement with Sigyn Therapeutics, Inc., a privately held medical technology company focused on the treatment of life-threatening inflammatory conditions. As reported in a Schedule 14C Information statement filed today with the U.S. Securities and Exchange Commission (SEC) and a Form 8-K filed on August 31, 2020, Reign resources will acquire all of the outstanding capital stock of Sigyn Therapeutics in exchange for shares of Reign common stock representing approximately 75 percent of Reign's outstanding common stock. The Schedule 14C Information statement and Form 8-K can be accessed at www.SEC.gov.
Upon completion of the merger, Reign will be renamed Sigyn Therapeutics, Inc. and will be led by Sigyn co-founder Jim Joyce, who will serve as Chairman and CEO of the combined company. Sigyn Therapeutics will be focused on addressing a significant unmet need in global health; the treatment of life-threatening inflammatory conditions that are precipitated by Cytokine Storm Syndrome ("The Cytokine Storm" or "CSS") and not addressed with an approved therapy. The annual market opportunity for a therapeutic strategy to prevent or mitigate CSS has been reported to exceed $20 billion. Additional announcements regarding the combined company's management structure, Board of Directors and Science Advisory Board will be forthcoming.
Sigyn Therapy™ is a development-stage blood purification technology designed to overcome the limitations of previous drugs and devices to treat life-threatening inflammatory conditions, including sepsis, which is the #1 cause of hospital deaths. The mechanism of Sigyn Therapy allows for a broad-spectrum of inflammatory targets to be depleted from the bloodstream. Among the targets are inflammatory cytokines, cytokine aggregates, endotoxin and CytoVesicles that transport cytokines and other inflammatory cargos.
Beyond sepsis, Cytokine Storm related therapeutic opportunities include, but are not limited to virus induced Cytokine Storm (a leading cause of COVID-19 deaths), bacteria induced Cytokine Storm, acute respiratory distress syndrome (ARDS) and acute forms of liver failure, including hepatic encephalopathy. Sigyn Therapy may also be a candidate to stabilize or extend the life of patients waiting for the identification of a matched liver for transplantation. In such a scenario, Sigyn Therapy™ would serve as a bridge-to-liver transplant. Cytokine Storm Syndrome can also result from trauma, severe burns, acute pancreatitis, adverse drug reactions, cancer immunotherapies, cancer cachexia, acute kidney injury (AKI) and severe pneumonia.
Other Corporate Highlights
- Sigyn's co-founders have 50+ years of experience in the medical technology field and played instrumental roles in the development of three technologies that have been cleared by the FDA to treat COVID-19 infected individuals.
- Jim Joyce, the Chairman and CEO of Sigyn Therapeutics, has two decades of public company CEO and Board leadership experience. Specific to therapeutic blood purification, Mr. Joyce was the founder, Chairman and CEO of Aethlon Medical, ( NASDAQ: AEMD) a company that he navigated from a single shareholder start-up to Nasdaq-traded Company with 8,000+ shareholders.
- Sigyn Therapy aligns with U.S. government initiatives to support broad-spectrum treatment countermeasures that mitigate life-threatening conditions resulting from pandemic outbreaks such as COVID-19.
- A deep pipeline of pre-clinical, clinical and regulatory milestones are planned over the next 12-18 months.
Read the company's full news and disclaimer here:
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