Enzolytics, Inc. Enters Into Collaboration Agreement With Manufacturer Elimus Ltd.
Enzolytics, Inc. ("enzolytics.com")(the "Company") announced today that it has entered into a 4 year Collaboration Agreement with Elimus, Ltd ("Elimus"), a Bulgarian company located in Sofia, for the manufacturing, development and marketing of new and existing nutraceutical products of the two entities. The product license will be for the territory of North America (the United States, Canada and Mexico). The Company will utilize the capacity of Elimus as needed, on a priority basis, for it's current and future product line. Elimus will exclusively license its catalog of nutraceutical products, including its most popular herbal food product, VIP Power, for sale in the licensed territory. Ownership of all new products developed under this agreement will be shared on an equal basis.
In addition the Company announces that it has won its litigation with Cimarron Capital Ltd and Kona Concepts, Inc. The order was signed on July 23, 2024. With this victory the company has successfully defended its last remaining case. The Company's only remaining litigation issue is a pro se appeal by Dimatar Savov of the order granting motion to dismiss his claims. Mr Savov is the individual responsible for the false and misleading claim in the release from July 18, 2024 by Nika Pharmaceutical disclosed in the Company's press release last week.
Harry Zhabilov, CSO stated, "We look forward to the combined efforts of Elimus and ENZC to expand our reach in the United States nutraceutical market. The company also affirms that all of the IP owned by ENZC will be defended from those individuals that would attempt to infringe on the Company's rights."
Steve Sharabura, CEO added, "We are very pleased that the legacy lawsuits have been put behind us, and we can focus now even more on building the company. Dealing with past issues has been an enormous distraction, and we are happy they've put aside. Also, a forward-looking agreement with Elimus is another step to building our portfolio."
Source: Enzolytics, Inc.