Houston, TX, Jan. 13, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- AngioSoma Inc. (OTC: SOAN) (“AngioSoma” or the “Company”) founding Director and Chief Executive Officer, Alex Blankenship, announced closing of the settlement agreement to conclude the 2-year legal dispute between founder David Summers and AngioSoma. The parties agreed that the legal expense is a substantial incentive to terminate the dispute. Closing of the previously signed settlement agreement was signed by both parties on January 9, 2020. Dr. Summers proposed that he provide an exclusive marketing license for the use of the company’s preeminent intellectual property, Liprostin, which is a unique liposome encapsulating the miracle anti-inflammatory drug, prostaglandin e1 (PEG1). The license will specify AngioSoma’s use of Liprostin in treating Diabetes, and as a component in the smooth muscle inhibition coating on the company’s patented vascular stents. Additionally, the parties agree to cooperate on the speedy development of the company’s new patented “plaque-scrapper” atherectomy catheter, the OmniCath II which is in prototype stage.
AngioSoma President Blankenship said, “We are extremely pleased that the legal dispute is behind us. We look forward to full cooperation with Dr. Summers and his team to move our products into the market and especially, we look forward to using Liprostin in conjunction with interested parties in new state-of-the-art protocols for out-patient treatments that stimulate pancreatic beta cells to resume insulin production normalizing the body’s blood-sugar.”
Dr. Summers responded, “I am pleased to resume collaborating with Ms. Blankenship because she is a very capable healthcare professional who is committed to enhancing shareholder value.”
ABOUT ANGIOSOMA, INC.
AngioSoma is a wellness company dedicated to bringing innovative, effective and high-quality supplement products to the medical, wellness and adult-use markets through our marketing subsidiary, SomaCeuticals™. SomaCeuticals’s experienced team of industry first movers and enterprising visionaries has acquired a diversified supply of supplements, strong clinical, scientific and operating capabilities and leading product research and development infrastructure in order to create trusted products and brands in an expanding global market.
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NOTICE REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
CONTACT
AngioSoma, Inc.
Alex Blankenship
Alex@AngioSoma.com
(832) 781- 8521