CHICAGO, IL / ACCESSWIRE / December 1, 2023 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that it has filed a patent application with the European Patent Office (EPO) under reference code PCT/EP2023/083947 (filing date December 1, 2023) for its CCX0722 obesity and weight management product.
This marks an important milestone in the Company's dynamic and growing R&D pipeline, emphasizing its commitment to safeguarding intellectual property and fueling the growth of its innovative healthcare solutions.
The patent application includes data derived from extensive scientific research and significant advancements in the development of CCX0722. By employing novel amino acid-based cross-linkers, a series of water-absorbent polymeric networks, known as superabsorbent hydrogels (SAHs), has emerged as promising candidates for weight management and obesity. These SAHs achieve a swelling ratio of more than 100 g/g and demonstrate significantly superior characteristics compared to current alternatives, as depicted in the graph below.
S.R. = Swelling Ratio
Figure: Comparative Results for CCX Products A and B Versus Existing Hydrogel
Encouraging results from these newly modified hydrogels affirm the Company's dedication to crafting novel products with enhanced activity, highlighting its expansive vision and commitment to exploring innovative pathways.
As the Company continues to advance its R&D program, it plans to file additional patent applications in order to reflect the substantial advancements in product development and help secure a prominent position in the biotechnology space.
Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "Research and innovation are in our DNA. Over the years, we have assembled a world-class team of scientists and established a top-tier R&D department. We are thrilled with the progress in developing CCX0722 and look forward to shaping the future of weight management solutions. These achievements reflect our team's steadfast commitment. We are also eager to continue our pioneering and trailblazing journey in the pharmaceutical sector at an even faster pace with additional exciting R&D projects in the pipeline. To this end, as previously announced, we remain dedicated to transforming our R&D division into a separate, standalone, publicly listed company, aiming to accelerate our efforts in what we believe to be a transformative catalyst for our shareholders."
About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 and headquartered in Chicago, Illinois, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe® and C-Sept®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency, it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, and www.zipdoctor.co.
With the exception of the historical information contained in this news release, the matters described herein, may contain 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. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE: Cosmos Health Inc.
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