Carmel Biosciences, an Atlanta, Georgia based pharmaceutical company, announced today a clarification that no business or working relationship exists with Nutriband, Inc. This announcement was made in light of previous news releases from September 2018 that indicated that Nutriband (based in Orlando, Florida) had acquired Carmel and its pharmaceutical and nutraceutical assets. Discussions for potential acquisition originated in May 2018 and a letter of intent was signed in June 2018. However, no Definitive Agreement was ever finalized and no acquisition event occurred.
In November 2018, both Carmel and Nutriband terminated any further discussions for acquisition, and notification was made by Nutriband to the Securities and Exchange Commission in a Form 8-K report.
Carmel Biosciences is a pharmaceutical company that addresses critical needs in reformulation for cardiovascular and metabolic therapies to provide a high degree of safety, efficacy, and ease of dosing. The company retains the New Drug Application (NDA) and ownership rights to Food and Drug Administration-approved Prexxartan, the first and only approved oral liquid dosage form of the angiotensin receptor blocker (ARB) valsartan in the United States. Carmel also maintains the ownership and rights to develop and market Carmel's pipeline including CAR-509, CAR-510, CAR-511 and CAR-512, currently in pre-Investigational New Drug (IND) phase.