Enzolytics Inc. Files Supplemental Information Report on the Sale of Biogenysis, Inc. and Virogentics, Inc to Sagaliam Acquisition Corp.

COLLEGE STATION, TX / ACCESSWIRE / July 11, 2023 / Enzolytics, Inc. (OTC PINK:ENZC) (https://enzolytics.com/).

Enzolytics, Inc. ("ENZC" or the "Company") filed a Supplemental Information report today to provide additional details regarding the recently entered non-binding letter of intent with Sagaliam Acquisition Corp. ("NASDAQ: SAGA") ("SAGA") (together the "Parties") to sale the Company's two operating subsidiaries Biogenysis, Inc. ("BGEN") and Virogentics, Inc. ("VIRO") in a transaction valued at $450 million.

Dr. Gaurav Chandra, CEO of Biogenysis stated, "At Biogenysis, our primary focus is on developing and producing monoclonal antibodies to treat numerous infectious viruses. We have realized meaningful progress in achieving significant results which will be reported as we progress. Through the SPAC agreement, we will be able to expand our programs and bring monoclonal antibodies therapies to market more rapidly. Our intellectual property portfolio includes diagnostics, therapeutics, and vaccines targeting numerous viruses that have been analyzed using our AI technology. We expect that this progress and technology will lead to diverse licensing and partnering opportunities. AI has played a critical role in advancing our research and development in drug discovery, and we remain committed to using AI to revolutionize healthcare. We continue to partner with major biotech entities to assist us in pushing the boundaries of personalized medicine as we remain dedicated to our mission of producing safe and effective treatments using monoclonal antibodies."

Diana Zhabilov, CEO of Virogentics added, "The Virogentics team is excited about the SAGA agreement which will support further development of the Company's technologies and bring them to a higher level of achievement. Virogentics' IPF Immunotherapy platform can be used in combination with existing therapies for treatments of different viral and chronic diseases and under the proposed SAGA agreement, this extension can be realized. The Company is moving ahead toward registration of its ITV-1 therapeutics under the requirements of the European Medicines Agency (EMA). Also, the Company expects favorable results from the outcome of ITV-1 trials being conducted in Africa. The Company is also currently focusing on the development of several new nutraceutical products for liver and brain detox that VIRO has been exclusively licensed for distribution in north America. These therapeutics will soon be presented to the FDA for approval."