Appoints Paul Michaels Co-CEO of Parent and CEO of Subsidiary
Boca Raton, FL, June 06, 2023 (GLOBE NEWSWIRE) -- Curative Biotechnology Inc. (OTC: CUBT) (“Curative Biotech” or the “Company”), a development-stage biomedical company focused on novel therapies for rare diseases and conditions, today announced that the registration process has begun for the creation of a subsidiary in Japan with an official incorporation date expected August 1, 2023, to facilitate licensing transactions and asset licensing within the country. The establishment of this subsidiary marks an important milestone for Curative Biotech as it expands its reach and presence in the Japanese market. The new entity has been named Curative Biotech Japan K.K. (“Curative Japan”) and will be located at 2-23-12 Shimomeguro Meguro ku, Tokyo 153-0064 Japan.
The Company appointed Paul Michaels to Co-CEO, effective immediately. Paul will remain President of the Company and Chairman of the Board of the Directors, of which he has been a member of since 2020 and will serve alongside I Richard Garr, Esq. as Co-CEO.
The Japanese subsidiary, once operational, will select a seasoned pharmaceutical and business executive, who will assume the role of Representative Director. Additionally, Paul Michaels, Chairman of the Board of the Company’s US organization, has been appointed as the CEO of Curative Japan.
"We are excited to establish our presence in Japan through the creation of our subsidiary," said Paul Michaels, Co-CEO of Curative Biotech. "This strategic move allows us to leverage our expertise and further work within the Japanese market. We hope that this can contribute significantly to improving healthcare outcomes for patients in Japan."
Michaels continued, “Curative Biotech remains committed to developing therapies that address critical unmet medical needs. The establishment of the Japanese subsidiary represents a significant step forward in the mission.”
About Paul Michaels
With over two decades of expertise in negotiating international licensing transactions in the life sciences sector, specifically between U.S. biotechnology companies and Japanese pharmaceutical companies, Mr. Michaels has established enduring relationships with key business leaders and stakeholders in both Japan and the U.S. Experienced at navigating the regulatory landscapes and cultural nuances, he has completed global licensing transactions with companies such as Sumitomo Pharmaceuticals, Nobelpharma Co., Ltd, Teva Pharmaceuticals, and Gilead among others. In 1993, Mr. Michaels joined Inabata & Co., Ltd., a prominent Japanese trading company with diversified investments in the pharmaceutical sector, with annual sales exceeding $5 billion. Beginning his tenure with the organization's U.S. subsidiary, he assumed various roles, including the position of Chief Financial Officer of Inabata America Corp from 1999 to 2000. During his tenure, Mr. Michaels oversaw numerous cross-border transactions, contributing to the subsidiary's financial management and strategic direction.
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About Curative Biotechnology, Inc. http://curativebiotech.com
Curative Biotechnology, Inc. (Curative Biotech) is a development stage biomedical company focused on novel therapies for rare diseases. The Company is identifying, acquiring, and developing disease modifying therapeutic drug candidates with a concentration on rare disease indications. Curative Biotech currently has ongoing programs in three (3) different therapeutic areas: degenerative eye disease, infectious disease, and neuro oncology. The Company is now concentrating its energy and resources on its degenerative eye disease platform, based on a worldwide exclusive license from the National Eye Institute (NEI) at the National Institutes of Health (NIH). The first therapeutic to be developed on this platform is a Metformin Reformulation targeting the treatment of intermediate and late-stage Age-Related Macular Degeneration (AMD) disease with the goal of being in the clinic in 2023 for a first in human trial of its metformin-based eye drop. The trial will be conducted under a Cooperative Research and Development Agreement (CRADA) with the NEI.
This press release contains “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. CUBT is not yet generating revenues. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subjected to known, unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with OTC Markets from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Curative Biotech (CUBT)