$250 Million Lawsuit Filed Against AscellaHealth by Nymox Accepted and Summons Issued in California Court

IRVINE, Calif., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (“Nymox”) (OTC Markets NYMXF) announced today that the California Superior Court, Orange County (OCSC) has accepted on November 18, 2023 Nymox's lawsuit against AscellaHealth and issued a Summons to be served on Ascella. The lawsuit is styled Nymox Pharmaceutical Corporation vs. AscellaHealth, LLC., case No. 30-2023-01362136-CU-BT-CJ. Nymox filed its lawsuit in California Superior Court, Orange County on November 8, 2023, to protect its shareholders’ interests, as Nymox alleges that AscellaHealth, LLC (“Ascella”) engaged in unlawful means in repeated attempts to gain control of Nymox for its own advantage, at what would have been at the expense of Nymox’s shareholders.

The lawsuit contends the following:

• Ascella’s conduct included using connections with (now-former) Nymox corporate officers and directors, including its General Counsel, to pass off an investment proposal as a way to gain access to highly confidential and proprietary company information, and to take control of the company's assets by a kick-back scheme.
• After this scheme was uncovered and thwarted, Ascella has continued relentlessly in its attempts to interfere with Nymox’s relationship with its shareholders, including publishing confidential Nymox information using a front organization called “Committee to Restore Nymox Shareholder Value,” and undertaking a failed attempt to organize a sham shareholder meeting to take control of Nymox.

Ascella presumably thought that Nymox would submit to or collapse under these coordinated assaults on its business, allowing Ascella to reap the years of Nymox’s efforts to take its pipeline drugs including NYMOZARFEX to market.

Ascella did not count on the resiliency of Nymox’s Management and Board, the loyalty of its shareholders and other stakeholders, and the strength of the justice system in both the United States and the Bahamas. Nymox is confident that it will be vindicated in court. Nymox has not been deterred from its core business mission of bringing life changing drugs to market and looks forward to continued success notwithstanding the bad acts of Ascella. The company will be seeking $250 million in compensatory and punitive damages.