Citius Pharmaceuticals Signs Letter of Intent to Acquire Leonard Meron Biosciences

Citius Pharmaceuticals, Inc. (OTCQB: CTXR) today announced that the Company has entered into a non-binding letter of intent to acquire all of the outstanding shares of Leonard Meron Biosciences, Inc.
According to the news:

LMB’s lead drug candidate, Mino-Lok™, is an antibiotic lock solution used to treat patients with catheter-related bloodstream infections, or CRBSIs. Mino-Lok™ is a patent-protected, novel solution containing minocycline, edetate (disodium EDTA), and ethyl alcohol, which act to break down bacterial biofilms, eradicate the bacteria, provide anti-clotting properties to maintain patency in CVCs, and salvage the indwelling catheter. Mino-Lok™ is entering phase 3 trials after demonstrating safety in its phase 2b trial conducted at the MD Anderson Cancer Center in Houston.

Mr. Leonard Mazur, Chairman and Chief Executive Officer of Citius Pharmaceuticals, Inc commented:

We are excited with this merger which we believe will provide us immediate access to Mino-Lok™, a phase 3 ready program in a billion-dollar industry. We are especially pleased with the expansion of our management team to include industry veteran, Mr. Myron Holubiak, who will manage and direct all of our development programs including our prescription hemorrhoid treatment. Mr. Holubiak has an extensive background in pharmaceutical general management, having been president of Roche Labs Inc., and health economics, an increasingly important discipline in healthcare today. After the merger, we will be prepared to seek additional opportunities to expand our product pipeline in critical care and associated treatment areas while conforming to our growth philosophy of developing and introducing drug products that address unmet medical needs and provide cost-effective solutions in today’s healthcare world.  We are at the forefront of an exciting time for Citius.

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