NLS Pharmaceutics Announces the Completion of the Merger between NLS Pharma Ltd., NLS-1 Pharma Ltd. and NLS-0 Pharma, Unifying the Global Operations and Development of Nolazol®
The combined company was named NLS Pharmaceutics Ltd (NLS)
STANS, Switzerland, March 19, 2019 (GLOBE NEWSWIRE) -- NLS Pharmaceutics Ltd (NLS), a Swiss biotech firm focusing on the development of novel treatments for Attention-Deficit/Hyperactivity Disorder (ADHD) and other cognitive disorders and impairments, today announced the closing of the merger of NLS Pharma Ltd., NLS-1 Pharma Ltd. and NLS-0 Pharma, effective immediately. The combined company was named “NLS Pharmaceutics Ltd.” The sideways merger brings together the global operations and assets of the three companies in order to streamline the development of Nolazol®, a controlled release formulation of mazindol that is currently being developed as a non-amphetamine DEA schedule C-4 treatment option for ADHD and narcolepsy, as well as a promising pipeline of early to late-stage compounds focusing on ADHD, sleep disorder and other rare diseases.
Leading the combined company as Chief Executive Officer is Alex Zwyer, who served as co-Founder and CEO of NLS Pharma Ltd. leading up to the merger. Ronald Hafner will serve as Chairman of the board of directors.
“We are convinced that merging the operations, IP and other assets of these three businesses into a single company will significantly increase the attractiveness and visibility of NLS and its R&D projects,” stated Mr. Zwyer. “We are excited to move forward as a single entity with a strong clinical program and rich product pipeline that we believe will continue to grow.”
The Company’s recent Phase II study in ADHD for Nolazol® demonstrated efficacy levels equivalent to, or greater than, those previously only seen with stimulant treatments, with a favorable treatment-related adverse event profile. NLS Pharmaceutics is currently planning Phase III clinical studies in ADHD for Nolazol® in the U.S., which is expected to reach the U.S. market as soon as 2022/2023, pending regulatory approval and other factors.
About NLS Pharmaceutics
NLS is a privately owned, Swiss-based biotech firm focusing on the development of first-in-class treatments for ADHD, sleep disorders, cognitive impairment and other neurological disorders that remain largely underdiagnosed and for which unmet medical needs are significant. NLS has built a large portfolio of promising clinical-stage compounds being developed by an experienced team of proven experts in ADHD and sleep related disorders and working closely with key opinion leaders.
Mazindol is a triple reuptake inhibitor and partial agonist of the orexin-2 receptor, originally developed as an appetite suppressant in 1973, and classified at that time as a DEA scheduled C-4 controlled substance (low probability for misuse/abuse). It was withdrawn from US markets by 2002 due to commercial reasons unrelated to efficacy or safety. Mazindol CR (controlled release) is a novel formulation with a lower Cmax than the immediate release formulation and an equivalent AUC, designed for once daily dosing, which is under investigation for the treatment of ADHD and narcolepsy.
Safe Harbor Statement
This press release contains express or implied forward-looking statements pursuant to U.S. Federal securities laws. For example, NLS is using forward-looking statements when it discusses its belief that the merging of the three businesses will significantly increase the attractiveness and visibility of NLS and its R&D projects, These forward-looking statements and their implications are based on the current expectations of the management of NLS only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; NLS may encounter delays or obstacles in launching and/or successfully completing its clinical trials; NLS’s products may not be approved by regulatory agencies, NLS’s technology may not be validated as it progresses further and its methods may not be accepted by the scientific community; NLS may be unable to retain or attract key employees whose knowledge is essential to the development of its products; unforeseen scientific difficulties may develop with NLS’s process; NLS’s products may wind up being more expensive than it anticipates; results in the laboratory may not translate to equally good results in real clinical settings; results of preclinical studies may not correlate with the results of human clinical trials; NLS’s patents may not be sufficient; NLS’s products may harm recipients; changes in legislation may adversely impact NLS; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of NLS to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, NLS undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor relations contact
LifeSci Advisors Daniel Ferry: +1 617-535-7746
NLS Pharmaceutics Alex Zwyer, CEO: +41 41 618 80 00
One Liberty Plaza - 165 Broadway
NY 10006 New York
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