Sigyn Therapeutics Announces Merger with Reign Resources
By: Ashwathy Nair
A medical technology company dedicated to the treatment of life-threatening inflammatory disorders, Sigyn Therapeutics, Inc. confirmed that it’s previously disclosed merger with Reign Resources Corporation has been completed. The newly merged firm will trade under the name Sigyn Therapeutics, Inc. (Sigyn) and will begin trading under the ticker symbol SIGY.
The treatment of life-threatening inflammatory conditions caused by Cytokine Storm Syndrome (‘the Cytokine Storm’), a hyperactive immune response that can trigger multiple organ failure and cause death, was created to resolve a major unmet need in global health. The annual market potential exceeds $20 billion for a therapeutic strategy to avoid or mitigate the Cytokine Storm.
Sigyn TherapyTM is a blood purification therapy intended to remedy the deficiencies of prior medications and life-threatening inflammatory conditions that are the number 1 cause of in-hospital deaths, including sepsis. Sigyn Therapy is mechanistically designed to reduce the involvement of a large range of inflammatory factors in the human circulatory system. This involves pro-inflammatory cytokines, aggregates of cytokines, endotoxins, and larger CytoVesicles that transport cytokines and other bloodstream inflammatory cargos.
In addition to sepsis, therapeutic opportunities associated with Cytokine Storm which include, but are not limited to, Cytokine Storm virus-induced (a leading cause of COVID-19 deaths), Cytokine Storm bacteria-induced, acute respiratory distress syndrome (ARDS) and acute types of liver failure, including hepatic encephalopathy. Sigyn Therapy may also be a candidate for stabilising or extending the life of patients waiting for a matched liver to be found for transplantation. Sigyn TherapyTM will act as a bridge-to-liver transplant in such a situation. Trauma, extreme burns, acute pancreatitis, adverse drug reactions, cancer immunotherapy, cancer cachexia, acute kidney injury (AKI) and extreme pneumonia can also cause Cytokine Storm Syndrome.
“Our goal of establishing Sigyn Therapeutics as a publicly traded business is accomplished by the completion of this merger,” said Sigyn Chairman and CEO, Jim Joyce. “We are undertaking a series of studies to improve the capacity of our technology and to help our regulatory milestone goal of applying an Investigation Device Exemption (IDE) to the United States Food and Drug Administration (FDA) in 2021 to further the development of Sigyn Therapy”.
Sigyn has approximately 34 million common shares issued and outstanding in conjunction with the completion of the transaction, with former Sigyn stock investors collectively holding approximately 75 per cent of the combined business on a fully diluted basis, and Reign shareholders collectively holding approximately 25 per cent of the combined company on a fully diluted basis.