ZyVersa is a clinical-stage biopharmaceutical company developing first-in-class product candidates for the treatment of kidney and inflammatory diseases
Weston, Fla. And Bridgewater, NJ, December 12, 2022 /PRNewswire/ — ZyVersa Therapeutics, Inc. (“ZyVersa”), a clinical stage specialty biopharmaceutical company leveraging advanced proprietary technologies to develop products for patients with renal or inflammatory diseases with high unmet medical needs, and Larkspur Health Acquisition Corp. . (NASDAQ) : LSPR or “Larkspur”), a blank-check special purpose acquisition company, is pleased to announce the closing of its previously announced business combination.
The business combination and related transactions were approved by Larkspur’s shareholders at a special meeting December 8, 2022, Under the leadership of the previous management team of the combined company ZyVersa ZyVersa Therapeutics, Inc. will work as Stephen C GloverCo-Founder, Chief Executive Officer and President of ZyVersa. Daniel J O’Connor, who was Larkspur’s president and chief executive officer, will join ZyVersa’s board of directors. ZyVersa’s common stock is expected to commence trading on Nasdaq under the ticker symbols “ZVSA”. December 13, 2022, Larkspur warrants that previously traded under the symbol “LSPRW” will no longer be listed for trading on Nasdaq.
“Today marks an important milestone for ZyVersa. We are thrilled to close our business combination with Larkspur and begin our next chapter as a publicly traded company,” said Mr. Glover. “I want to thank our partners at Larkspur, our board of directors, and my colleagues at ZyVersa who have contributed to this achievement. Funding from this transaction will allow ZyVersa to advance our clinical program for VAR 200. allows us to take steps to enhance, a cholesterol efflux mediator, for patients with kidney disease, and to progress to IC100, an inflammatory ASC inhibitor, for investigational new drug applications,” Mr. Glover continued.
“We are delighted to partner with Ziversa in this business combination,” said Mr. O’Connor. “We believe ZyVersa has the potential to create stockholder value based on its unique value proposition as discussed in the public filing,” continued Mr. O’Connor.
The Benchmark Company LLC and Noble Capital Markets, Inc. is acting as financial advisor to Ziversa, and Lowenstein Sandler LLP is acting as legal advisor to Ziversa.
AGP/Alliance Global Partners, for which Manett, Phelps & Phillips, LLP is acting as legal advisor, is acting as exclusive financial advisor to Larkspur. Alston & Bird LLP is acting as legal counsel to Larkspur.
About Larkspur Health Acquisition Corp.
Larkspur is a special purpose acquisition company (SPAC) created to identify a biopharmaceutical company that could grow and flourish as a newly formed public company, and benefit from Larkspur’s operational expertise and a significant infusion of capital Can Members of Larkspur’s management team and board of directors have participated in prior management and executive leadership teams of private and/or public biopharmaceutical companies and collectively have more than 50+ years of total investment and operating experience. The team strongly believes in the growth opportunities in the biotechnology industry. They are experienced operators looking to partner with top innovators and thinkers in the biopharmaceutical sector. His entrepreneurial approach helps management teams make effective decisions for growth and operational excellence. Please visit www.lsprhealth.com for more information.
ZyVersa Therapeutics, Inc. about
ZyVersa is a clinical stage specialty biopharmaceutical company leveraging advanced, proprietary technologies to develop product candidates that address high unmet medical needs in the areas of kidney and inflammatory diseases. ZyVersa’s development pipeline includes the Phase 2a formulation VAR 200, a cholesterol efflux mediator for the treatment of the rare kidney disease, focal segmental glomerulosclerosis. ZyVersa believes VAR 200 has potential to treat Alport syndrome and other glomerular diseases, including diabetic kidney disease. ZyVersa’s development pipeline also includes IC 100, a novel inflammasome ASC inhibitor being developed to treat a multitude of inflammatory diseases. Please visit www.zyversa.com for more information.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release regarding matters that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. These include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future, and therefore, you are cautioned not to place undue reliance on them. Any forward-looking statement cannot be guaranteed, and actual results may differ materially from those projected. ZyVersa Therapeutics, Inc. (“ZyVersa”) “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” uses. should,” “may,” “anticipate,” “predicts,” “potential,” “continue,” “guidance,” and similar expressions to identify these forward-looking statements that are subject to safe-harbor provisions Such forward-looking statements are based on ZyVersa’s expectations and involve risks and uncertainties; as a result, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including: including ZyVersa’s plans to develop and commercialize its product candidates; the timing of initiation of ZyVersa’s planned preclinical and clinical trials; the timing of availability of data from ZyVersa’s preclinical and clinical trials; any planned investigational new drug Timing of the application or new drug application ZyVersa plans to research, develop and commercialize its current and future product candidates Clinical utility, potential benefits and market acceptance of ZyVersa’s product candidates Commercialization, marketing and manufacturing of ZyVersa capabilities and strategy; ZyVersa’s own Ability to protect intellectual property status; and projections regarding ZyVersa’s future revenues, expenses, capital requirements and the need for additional financing.
New factors may arise from time to time, and it is not possible for ZyVersa to predict all such factors, nor can ZyVersa assess the impact of each such factor on the business or the extent to which any factor or combination of factors cause actual results to differ materially from those contained in any forward-looking statements. The forward-looking statements included in this press release are based on information available with Ziversa as of the date of this press release. ZyVersa disclaims any obligation to update such forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.
This press release is not an offer to sell, or an offer to buy, any securities.
SOURCE ZyVersa Therapeutics, Inc.