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
ReadyTalk has expanded the capabilities of the FoxDen collaboration platform announced late last year to include FoxDen Connect, an in-room video collaboration experience that launches with a single touch. With FoxDen Connect, users can now not only engage in HD video conferencing between iOS and Android mobile devices or Chrome browsers, but also set up in-person meeting rooms for video interactions. A host’s mobile device automatically recognizes the presence of a meeting room via beacon tech...
Ovum, a leading technology analyst firm, has published an in-depth report, Ovum Decision Matrix: Selecting a DevOps Release Management Solution, 2016–17. The report focuses on the automation aspects of DevOps, Release Management and compares solutions from the leading vendors.
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
UpGuard has become a member of the Center for Internet Security (CIS), and will continue to help businesses expand visibility into their cyber risk by providing hardening benchmarks to all customers. By incorporating these benchmarks, UpGuard's CSTAR solution builds on its lead in providing the most complete assessment of both internal and external cyber risk. CIS benchmarks are a widely accepted set of hardening guidelines that have been publicly available for years. Numerous solutions exist t...
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...