$ZYUS.V

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ZYUS Life Sciences Closes Third Tranche of Secured Loan Financing

ZYUS Life Sciences' (ZYUS.V) wholly-owned subsidiary, ZYUS Life Sciences Inc, closed a third tranche of a secured loan financing with certain lenders, for C$200,000, the company said late Wednesday.The closing of the third tranche brings the total amount of the secured loan to $645,000, said the company, and added that the aggregate size of the secured loan offering is up to $2 million.The secured loan bears interest at a rate of 12% per annum, payable on maturity, is pre-payable by ZYUS Inc at any time without penalty or premium, and will mature six months from the effective date of the loan, added the company.Certain insiders of the company participated in the third tranche for an aggregate amount of C$100,000.The company plans to use the net proceeds of the third tranche for general working capital purposes."Subject to receipt of approval from the TSX Venture Exchange (the "Exchange"), the Secured Loan will be secured by a security interest granted under the terms of a general security agreement (subject to an exception in respect of certain assets)," said the company.ZYUS Inc expects to close additional tranches under the secured loan.

$ZYUS.V

Mining & Metals6d ago

ZYUS Life Sciences Announces Strategic Realignment to Prioritize Drug Development

ZYUS Life Sciences (ZYUS.V) on Thursday announced a strategic realignment of its corporate structure and leadership as the clinical-stage drug developer sharpens its focus on core clinical development programs.The company said it will discontinue its international business development activities, a move aimed at reducing overhead costs and redirecting resources toward its non-opioid pain management drug development pipeline. As part of the initiative, ZYUS will also begin a formal wind-down of its international legal entities.In connection with the restructuring, Keith Carpenter will step down as chief strategy and investment officer, effective June 11."This realignment reflects our commitment to focusing resources on the areas that we believe will create the greatest value for patients and shareholders," said chief executive Brent Zettl.The company's shares last traded May 8 on the TSX Venture Exchange, after being halted by regulators until the company provides annual audited financial statements for 2025.

$ZYUS.V

Mining & Metals43d ago

ZYUS Life Sciences Expands U.S. Patent Portfolio With Second Pain Management Patent

ZYUS Life Sciences' (ZYUS.V) patent, held by its wholly owned unit, ZYUS Life Sciences Inc., was issued by the United States Patent and Trademark Office (USPTO) (U.S. Patent No. 12,616,704,) entitled "CANNABICHROMENE FORMULATION FOR PAIN MANAGEMENT," it said overnight Tuesday.The patent is based on International Patent Application No. PCT/CA2021/050430 and covers a novel, non-intoxicating approach to pain management, it said. The newly issued patent relates to the company's second drug candidate, further expanding its pipeline of novel, proprietary, non-opioid therapies and supports ongoing clinical research targeting neuropathic pain, including peripheral neuropathy, such as diabetic and cancer-related neuropathies, it added.The patent provides additional intellectual property protection alongside potential regulatory exclusivity for CBC, whether as monotherapy or within its lead drug product, Trichomylin softgel capsules, subject to regulatory determination by the U.S. Food and Drug Administration at the time of marketing authorization."The issuance of this U.S. patent further validates our commitment to advancing a differentiated portfolio of novel non-opioid pain drugs," said ZYUS Chief Executive Brent Zettl. "We remain focused on developing innovative treatment options to address significant unmet needs in chronic and neuropathic pain."Shares of the company were last seen unchanged at $0.45 on the TSX Venture Exchange.

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