VANCOUVER, BC, Nov. 25,
2024 /PRNewswire/ -- Zero Candida (the "Company"
or "ZCT"), (TSXV: ZCT) an Israeli FemTech medical device start-up,
is pleased to announce full Transaction and Being Trading on
November 25th on the TSX
Venture Exchange (Canada)
symbol : ZCT.
Zero-Candida technology (ZCT) is FemTech
developing an AI smart tampon-like device based on
therapeutic light source with a selected wave-length and intensity
that can treat the Candida fungus successfully of 99.999% an
POC overnight. Vulvo-Vaginal Candidiasis ("VVC") affects about
75% of women globally, ZCT device is a Game changer that has the
potential to change the treatment of women and the FemTech industry
in the world. The first of its kind of technology using a
controlled "Blue Light," destroys the vagina fungus at record speed
and without side effects. The treatment is Safety & carried out
by a tampon-like medical device which, according to medical
experts, provides an optimal solution for removing the fungus
altogether and preventing the recurrence of the disease.
Zero Candida is working on creating a technology to enable the
hybrid medicine services to be provided by gynecologists to
populations that until now received no treatment at all, including,
among others, in the developing countries. The ZCT device
is Collect and transmits treatment data to the attending
physician in real time, for assessment, treatment personalization
and monitoring. Seamless data transfer through Wi-fi chip and VoIP,
allows for the convenience of remote care and treatment consulting.
Another significant advantage of the Zero Candida device is
treatment without side effects, supporting growing demand from
women to improve their health without the use of chemicals.
Eli Ben Haroosh, Founder & CEO: "Today, is a great
day for the FemTech industry and women's treatments around the
world, our new technology will be a game changer in the field of
women's health. The company is advancing in its research with
the hope of involving hospitals and academic institutions around
the world. Our company's vision is to complete a pre-clinical study
by 6/2025 and submit it to the FDA."
The company continues to develop a final prototype for human use
and will complete it by Q1 2025. "Zero Candida has a potential to
become a technological leader and use its ground-breaking
technology to expand boundaries of non-chemical candida treatment,"
added Ben Haroosh.
Summary of Transaction
Pursuant to the business combination agreement
(the "Agreement") between a Canadian reporting issuer
(the "Reporting Issuer") and the Company, the
transaction is expected to be contemplated by a three-cornered
amalgamation, where the Reporting Issuer's wholly owned Israeli
subsidiary incorporated solely for the purpose of the transaction,
is expected to amalgamate with ZC. Each holder (each a " ZC
Shareholder") of ZC Share, other than a ZC Shareholder who
exercised Dissent Rights (as defined in the Israeli Companies Law)
is expected to receive 8.6277 eight and six thousand two hundred
seventy seven ten-thousandths) shares in the capital of the
Reporting Issuer (each a "Resulting Issuer Share") in exchange for
each ZC Share held by such ZC Shareholder, resulting in the Company
issuing up to an aggregate of 12,223,232 Resulting Issuer's Shares
(which will represent approximately 85.94% of the issued and
outstanding Resulting Issuer Shares, without taking into
consideration any ZC share purchase warrants to be exercised
immediately prior to completion of the Transaction, stock options
or a concurrent financing). Additionally, the holders of stock
options of ZC will be entitled to receive Resulting Issuer Shares,
instead of ZC Shares, on the exercise of their options.
About Zero Candida:
ZC is a private FemTech technology company incorporated under
the corporate laws of the State of
Israel. ZC is developing an AI smart tampon-like device
based on AI on a therapeutic light source with a selected
wave-length and intensity that can treat the Candida fungus
successfully of 99.999% an POC. Vulvo-Vaginal Candidiasis ("VVC")
affects about 75% of women globally, each year 138 million women
are affected world-wide and 492 million over their lifetime.
Recurrent VVC (4 or more episodes per year) is increasingly
documented to become drug resistant to existing treatments and
constitutes up to 10% of the cases of VVC. Existing treatments are
unable to overcome the high rate of recurrence, since the root
cause of the condition is poorly understood and addressed.
ZC has signed pre-clinical agreements with hospitals in
Israel and Europe and the company has successfully
completed a safety trial for the use of a pre-clinical device in
large animals (sheep) ZC continues the development of the final
product for human use in preparation for a clinical trial that will
take place in June 2025.
Zero Candida's device will bring the field of gynecology into
the 21st century with hybrid medicine and technology-based
diagnostics. At the same time as developing the treatment
procedure, Zero Candida is working on creating a technology to
enable the hybrid medicine services to be provided by gynecologists
to populations that until now received no treatment at all,
including, among others, in the developing countries.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the Canadian Securities
Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
Forward-Looking Statements
This news release includes certain statements and information
that constitute forward-looking information within the meaning of
applicable Canadian securities laws. All statements in this news
release, other than statements of historical facts, are
forward-looking statements. The Company provides no assurance that
forward-looking statements and information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements or
information. Accordingly, readers should not place undue reliance
on forward-looking statements or information. The Company does not
undertake to update any forward-looking statements, other than as
required by law. More detailed information about potential factors
that could affect financial results is included in the documents
filed from time to time with the Canadian securities regulatory
authorities by Zero Candida. Readers are cautioned not to place
undue reliance on forward-looking statements.
Logo -
https://mma.prnewswire.com/media/2420533/4723164/ZERO_CANDIDA_Logo.jpg
Contact:
Eli Ben Haroosh, CEO & Founder
E: info@zero-candida.com
Website: www.Zero-Candida.com
Facebook: @Zero-candida
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