SAN DIEGO, Jan. 31, 2022 (GLOBE NEWSWIRE) — Ensysce Biosciences, Inc. (“Ensysce” or the “Company”) (NASDAQ: ENSC, OTC: ENSCW), a clinical-stage biotech company with two novel technology platforms designed to provide relief for those suffering with severe pain while protecting against abuse and overdose, announced today the Company has engaged international investor relations specialists MZ Group (“MZ”) to lead a comprehensive strategic investor relations and financial communications program across all key markets.
MZ Group will work closely with Ensysce management to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community. The campaign will highlight how Ensysce is seeking to improve the safety of prescription drugs by applying its two breakthrough, proprietary drug technology platforms TAAP™ and MPAR™ that are designed to prevent opioid abuse and overdose. Ensysce’s lead TAAP opioid, PF614, which has been developed as abuse-resistance and Phase 1 data demonstrated as safe without compromising on efficacy, is expected to be the Company’s first product commercialized and generating revenue for ongoing programs. Ensysce has secured FDA Fast-Track Designation and is using the 505(b)(2) regulatory pathway, which could substantially reduce the trial/regulatory risk and potential time and cost to market.
MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors. The firm maintains offices worldwide and was recently ranked No. 7 in the world in business communication.
Shannon Devine, Managing Director at MZ North America, will advise Ensysce in all facets of corporate and financial communications, including the coordination of roadshows and investment conferences across key cities and building brand awareness with financial and social media outlets.
Ted Haberfield, Chairman & President of MZ Group North America, commented, “Ensysce’s revolutionary abuse-resistant opioids are designed to combat prescription drug abuse, an epidemic and one of the fastest growing drug problems in the U.S. The global opioids market is anticipated to grow to $29.8 billion in 2023, with more than one third of the U.S. population and 20-30% of the world population reporting chronic pain. This is driven in part by an aging population, as the prevalence of chronic pain increases with a higher incidence of age-related diseases including cancer, cardiovascular disorders, obesity and diabetes. At the same time, the expanding use of opioids has caused a rise in their abuse stemming from the desire to increase the onset of euphoria, its intensity, and its duration. Over the last year more than 200 people died in the U.S. daily after overdosing on opioids. Ensysce’s new class of pain products create untapped value which presents an exciting opportunity, and we look forward to sharing this with our network of institutional, family offices and retail investors.”
Shannon Devine added, “The TAAP™ and MPAR™ platforms created by Ensysce combine anti-abuse and anti-overdose technology to create new classes of prescription drugs that are expected to be powerful and safe for everyone. TAAP™ opioids are designed with a 2-step verification mechanism that cannot be ‘cracked’ like abuse deterrent formulations, thus delivering a highly effective solution to combat drug abuse. TAAP™ is only activated by trypsin, a digestive enzyme that exists only in the gut. Therefore crushing, inhaling or injecting it will not cause the opioid to be released faster to produce pleasure or euphoria. It also chemically modifies the opioid, thereby eliminating the potential abuse by the patient through physical means. MPAR™ is a smart anti-overdose platform that is designed to protect patients from overdosing when it is combined with TAAP™ opioids. MPAR™ inhibits trypsin when too much TAAP™ opioid is swallowed, inhibiting full activation and opioid release, and therefore, preventing overdose-related deaths. MPAR™ is only triggered by an overdose, blocking the additional doses consumed. Taken together, these drug platforms help meet the unmet need of safer opioid options for individuals suffering from severe pain.”
“Our pipeline of pain, addiction, and ADHD candidates developed using TAAP™ and MPAR™ continue to progress,” said Dr. Lynn Kirkpatrick, CEO of Ensysce Biosciences. “Most recently we announced a critical step in our path towards FDA approval – the first dosing in the Bioequivalence (BE) trial of the novel Trypsin Activated Abuse Protected (TAAP) Opioid, PF614. Additionally, in the fourth quarter of 2021, we successfully completed a financing of $15 million that provided us with the necessary proceeds to continue advancement of our lead clinical trial programs. We’re continuing to develop the next generation of innovative solutions to combat the potential for opioid abuse and we look forward to working with Shannon and the entire team at MZ Group to communicate the value of our technology for building long-term value for our shareholders,” concluded Kirkpatrick.
For more information on Ensysce, please visit the Company’s website at www.ensysce.com. To schedule a conference call with management, please email your request to [email protected] or call Shannon Devine at 203-741-8811.
About MZ Group
MZ North America is the US division of MZ Group, a global leader in investor relations and corporate communications. MZ provides innovative, customized services to domestic and multinational private and public companies across all industries through a unique, fully-integrated “one-stop-shop” approach. By delivering a comprehensive suite of products and services through one point of contact, MZ offers services to all relevant markets geared to helping our clients build a sustainable public brand. MZ North America has a global footprint with offices located in New York, Chicago, San Diego, Aliso Viejo, Austin, Minneapolis, Taipei and São Paulo. For more information, please visit www.mzgroup.us.
About Ensysce Biosciences
Ensysce Biosciences, San Diego, CA is a clinical-stage biotech company using its proprietary technology platforms to develop safer prescription drugs. Leveraging its Trypsin-Activated Abuse Protection (TAAP) and Multi-Pill Abuse Resistance (MPAR™) platforms, the Company is in the process of developing a new class of powerful, tamper-proof opioids that prevent both drug abuse and overdoses. Ensysce’s products are anticipated to provide safer options to treat severe pain and assist in preventing deaths caused by opioid abuse, reducing the human and economic cost. The platforms are covered by an extensive worldwide intellectual property portfolio for a wide array of prescription drug compositions. For more information, please visit www.ensysce.com.
Statements contained in this press release that are not purely historical may be deemed to be forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. Without limiting the foregoing, the use of words such as “may,” “intends,” “can,” “might,” “will,” “expect,” “plan,” and other similar expressions are intended to identify forward-looking statements. The product candidates discussed are in clinic and not approved and there can be no assurance that the clinical programs will be successful in demonstrating safety and/or efficacy, that Ensysce will not encounter problems or delays in clinical development, or that any product candidate will ever receive regulatory approval or be successfully commercialized. All forward-looking statements are based on estimates and assumptions by Ensysce’s management that, although Ensysce believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Ensysce expected. In addition, Ensysce’s business is subject to additional risks and uncertainties, including among others, the initiation and conduct of preclinical studies and clinical trials; the timing and availability of data from preclinical studies and clinical trials; expectations for regulatory submissions and approvals; potential safety concerns related to, or efficacy of, Ensysce’s product candidates; the availability or commercial potential of product candidates; the ability of Ensysce to fund its continued operations, including its planned clinical trials; the dilutive effect of stock issuances from our fundraising; and Ensysce’s and its partners’ ability to perform under their license, collaboration and manufacturing arrangements. These statements are also subject to a number of material risks and uncertainties that are described in Ensysce’s most recent quarterly report on Form 10-Q and current reports on Form 8-K, which are available, free of charge, at the SEC’s website at www.sec.gov. Any forward-looking statement speaks only as of the date on which it was made. Ensysce undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required under applicable law.
Ensysce Biosciences Company Contact:
Lynn Kirkpatrick, Ph.D.
Chief Executive Officer
Ensysce Biosciences Investor Relations Contact:
MZ North America
Source: Ensysce Biosciences Inc.