Welcome!

News Feed Item

UPDATE: Biozone Completes Acquisition of Cocrystal Discovery and Begins Transformation to High Growth Biotech Company

Company Appoints World-Class Executive Team and Directors Including Dr. Phillip Frost

ENGLEWOOD CLIFFS, NJ--(Marketwired - January 03, 2014) - Biozone Pharmaceuticals, Inc. (OTCQB: BZNE) today announced that it has finalized its planned merger with Cocrystal Discovery, Inc., a privately-held, biotechnology company developing antiviral therapeutics for human diseases. Cocrystal Discovery has previously received strategic investments from Teva Pharmaceuticals (NYSE: TEVA), Opko Health (NYSE MKT: OPK) and The Frost Group. 

Concurrent with the closing of the merger, Dr. Gary Wilcox has been appointed Chief Executive Officer and Chairman of the Board. Dr. Wilcox previously served on the Board of Directors and was Executive Vice President of Operations at Icos Corporation from 1993 through its sale to Eli Lilly for $2.3 billion in 2007. At Icos he led the team developing Cialis, which now has annual sales over $2 billion. Additionally, Dr. Roger Kornberg, has been appointed Chief Scientist and a Director of the combined entities. Dr. Kornberg received the 2006 Nobel Prize in Chemistry and is Professor of Structural Biology at Stanford University School of Medicine. Joining Dr. Wilcox and Dr. Fornberg on the Board of Directors is Dr. Phillip Frost, Dr. Sam Lee, Steven Rubin and Dr. Jane Hsiao. Dr. Frost is currently the Chairman and CEO of Opko Health, Inc, and the Chairman of the Board of Teva Pharmaceuticals. Dr. Hsiao is Vice Chairman and Chief Technical Officer of Opko Health, Inc. 

Newly Appointed CEO and Chairman, Dr. Gary Wilcox commented, "We are keenly focused on bringing our small molecule inhibitors of the viral replication complex to market. We believe in our ability to discover oral, once-a-day, broad-spectrum antiviral drug candidates targeting the polymerase enzyme of the Hepatitis C virus. This merger provides us even greater resources to help bring products to market and offers our shareholders an opportunity to realize significant value on their investment."

Member of the Board of Directors Dr. Frost commented, "We are excited about the team we have assembled with Dr. Wilcox's top-notch pedigree and successes in bringing products to market; I am confident in the future of this company. There are many compelling advantages to the technologies for small molecule inhibitors of the viral replication complex."

Cocrystal Discovery has five therapeutic programs targeting the Hepatitis C Virus (HCV), Influenza, the Human Rhinovirus (HRV), Dengue, and the Norovirus. The Hepatitis C Virus is the cause of 170 million chronic infections worldwide and has created a market for the treatment of $6 billion in 2012 that is projected to grow to $20 billion by 2020. Cocrystal Discovery is targeting two Hepatitis C replication enzymes, with its Polymerase program at lead optimization stage and its Helicase program at lead identification stage. Cocrystal Discovery's Influenza, HRV, Dengue, and Norovius programs are targeting unmet multi-billion dollar market opportunities with first-in-class antivirals. 

Under the terms of the merger agreement, current shareholders of Biozone Pharmaceuticals and Cocrystal Discovery will own approximately 40% and 60% of the combined company, respectively. The company plans to apply for a name change and ticker change in the upcoming months to more accurately reflect its business moving forward.

Cautionary Statement Regarding Forward-Looking Statements:
This press release contains forward-looking statements. Forward-looking statements also are prefaced by words such as "expect," "plan," "intend" and similar words. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the ability to finalize the agreement with Cocrystal Discovery, Inc. and receipt of satisfactory fairness opinions.

Contact
MDM Worldwide
David Zazoff
212-643-0417

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant th...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...