(TheNewswire)
TEL AVIV, ISREAL – TheNewswire - March 28, 2023 --- MobiVentures, Inc. (OTC:MBLV) (the “Company”), announced today that it hascommenced operations in its newly formed Anabasis Pharma Israel Ltd.subsidiary (“Anabasis Pharma Israel”).
Anabasis Pharma Israel is aimed at developing a novelDrug Delivery System combined with proprietary formulation based onPsilocybin Active Pharmaceutical Ingredient, the focus of thedevelopment is therapy of Depression in Patients with Dementia.Anabasis will use license proven formulation and drug deliverytechnology to reduce cost, time and risk of developing psilocybintreatment for depression in patients with dementia
Anabasis Pharma Israel has partnered with Marina whichis the biggest Mushroom grower and distributor in Israel, to jointlydevelop and cultivate APIs derived from Psilocybin mushrooms. Inaddition, Marina will provide a full envelope of in house R&Dcapabilities and highly scalable GAP and GMP production capabilitiesAnabasis aims to commence a phase I clinical study in one of theleading centers for Alzheimer in Israel
Anabasis Pharma Israel is led by seasoned managers,scientific team and directors from the pharma industryincluding:
Prof. Michael Davidson President of the AlzheimerCenter in Israel led several drug development projects and FormerChairman, Psychiatry Department of Tel Aviv University
Prof. Avraham Karasik, Professor and vice Dean Schoolof Medicine, Tel-Aviv University, experienced Drug DevelopmentExecutive who served in the R&D departments of Merck US and TevaIsrael.
Iftach Seri, Director, former CEO, WavelengthPharmaceuticals, Former CEO of Teva Pharmaceuticals Israel, FormerHead, API Division of Sun Pharma (NYSE, turnover > £ 3billion)
Koby Cohen, CPA, MBA, CFO, former CFO, MATIMOP, thecoordinator of industrial R&D cooperation between Israel and theinternational hi-tech community
Yaacov Michlin, CEO of Bio light [TASE:BOLT], a leaderin Ophthalmology development, former CEO & President of Brainsway(TASE listed: BRIN), former President and CEO of Yissum – thetechnology transfer company of the Hebrew University ofJerusalem.
Tamir Gedo, Ph.D., Founder and former CEO of BOL,Previous Chairman, Cannabis section at the Industrial Association ofIsrael, former CEO of Beyond Oil (CSE listed: BOIL), Chairman of AtlasGlobal Brands (CSE listed: ATL), founder of CanNegev (Israel Ministryof Economy and Innovation program of Incubators).
With the commencement of operations, the Company is nolonger considered to be a “shell company” pursuant as defined inRule 405 of the Securities Act of 1933, Rule 12b-2 of the Exchange Actof 1934 and Rule 15c2-11 of the Exchange Act of 1934.
The Company also announced that it has changed its name to AnabasisPharma, Inc. with the State of Wyoming and will be applying to FINRAto recognize the name change and for a voluntary trading symbolchange.
Statements in this press release that are not statements of historicalor current fact constitute "forward-looking statements"within the meaning of the Private Securities Litigation Reform Act of1995. Such forward-looking statements involve known and unknown risks,uncertainties and other unknown factors that could cause the actualresults of the Company to be materially different from the historicalresults or from any future results expressed or implied by suchforward-looking statements. In addition to statements which explicitlydescribe such risks and uncertainties, readers are urged to considerstatements labeled with the terms "believes,""should," "intends," "will," or"plans" to be uncertain and forward-looking. Theforward-looking statements contained herein are also subject generallyto other risks and uncertainties that are described from time to timein the Company's reports and registration statements filed with theSecurities and Exchange Commission.
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