KALY – Kali-Extracts Announces Second Bidder On Its Cannabis Biopharmaceutical Technology Valued At $50 Million
DALLAS, Nov. 08, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced a second party has approached the company to express interest in acquiring KALY’s U.S. Patented Cannabis Extraction Process and related biopharmaceutical technology has valued the technology at $50 million. KALY recently announced entering into discussions with a first investor to explore a possible sale of KALY’s cannabis biopharmaceutical technology. The first investor valued the technology at $50 million. KALY management considers the valuation consistent with recent valuation, but management maintains a position that the valuation still does not reflect the full potential of its intellectual property. The second party expressing interest has not yet communicated the value it places on KALY’s U.S. Patented Cannabis Extraction Process and related biopharmaceutical technology. KALY management indicates it is only entertaining opportunities where KALY management remains involved in the ongoing development of the cannabis biopharmaceutical technology and where KALY maintains rights to the patent in support of its ongoing edible and beverage business as well as in support of its ongoing hemp farming CBD extraction business.
KALY’s intellectual property portfolio contains a deep pipeline of cannabinoid product candidates including four distinct compounds listed here:
Chronic Obstructive Pulmonary Disease (COPD) - The market for COPD treatment is anticipated to reach $14 billion by 2025;
Type 2 Diabetes - The market for Type 2 Diabetes is expected to be a $64 billion market by 2026;
Cancer Pain Management - The overall pain management treatment market is anticipated to reach $83 billion by 2024, and
Epilepsy - The market for epilepsy treatment is anticipated to reach $9 billion by 2022.
In conjunction with the research already conducted and the next phase of research now moving forward, KALY recently filed for a new patent application specifically on its formulation for symptoms associated with COPD and other similar respiratory conditions. KALY also filed for a trademark on the name RespRx as the brand name for its CBD formulation to treat the symptoms associated with COPD and other similar respiratory conditions. The market for COPD treatment is anticipated to reach $14 billion by 2025.
In addition to KALY’s ongoing efforts to develop prescription therapies, KALY has initiated a program to certify its proprietary CBD extracts derived from KALY’s U.S. Patented Extraction Process as an Over-The-Counter (OTC) drug under the requirements prescribed by the U.S. Food and Drug Administration.
Since the last biopharmaceuticals strategy update, KALY has made substantial strides. KALY has since engaged with a major university to initiate a next round of evaluations and testing of its COPD treatment. The university program is anticipated to kickoff soon and the company plans to issue periodic updates as the program proceeds.
KALY has also made recent progress in advancing the development of its other treatments. The advances have been made possible by new partnerships. Announcements about the new partnerships are coming soon.
To stay abreast of the latest developments and learn more about the company visit .
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
CONTACT:
Frederick Ferri
(214) 210-0459
