NOVATO, Calif., Aug. 14, 2015 (GLOBE NEWSWIRE) -- Mount Tam Biotechnologies, Inc. ("Mount Tam"), a Delaware corporation, announced today that on August 13, 2015, it completed a reverse merger transaction through a share exchange and conversion agreement with TabacaleraYsidron, Inc. ("Tabacalera") (OTCBB:TQBY), a Nevada corporation, pursuant to which Mount Tam became a wholly owned subsidiary of Tabacalera. The merged company (the "Company") will initially trade on the Over The Counter Bulletin Board under Tabacalera's existing ticker symbol "TQBY."
"We are very excited to have the opportunity to introduce Mount Tam to the public markets," said Timothy Powers, Ph.D., CEO of Mount Tam and newly appointed CEO of Tabacalera. "Our technology provides an important opportunity to bring a potential solution to millions of people who suffer with Lupus. Concurrently, we believe that our proprietary technology will help drive shareholder value, and bring added attention to this challenging condition."
Licensed from The Buck Institute for Aging, the Company's first investigational compound, TAM-01, is a novel mTOR inhibitor, which has been optimized for the treatment of systemic lupus erythematosus (SLE), the most common form of Lupus. This is the first molecule utilizing the Company's unique mechanism for m-TOR inhibition, and the Company is currently investigating additional applications for the platform.
TAM-01 features the efficacy of rapamycin in pre-clinical animal models of SLE, while potentially significantly reducing or abolishing the undesirable side effects of rapamycin. The Company is currently preparing to conduct investigational new drug ("IND") or IND-enabling safety studies on TAM-01, with the intention of filing an IND application shortly.
In accordance with "reverse merger" accounting treatment, Tabacalera's historical financial statements as of period ends, and for periods ended, prior to the merger will be replaced with the historical financial statements of Mount Tam prior to the merger in all of the Company's future filings with the Securities and Exchange Commission.
About Mount Tam Biotechnologies, Inc.
Formed on World Lupus Day 2014, Mount Tam Biotechnologies, Inc. was established to develop, optimize and bring to market leading medical compounds to better the health and well being of millions of people who have been affected by autoimmune diseases. The organization's most advanced product focuses on the treatment of systemic lupus erythematosus (SLE).
For more information visit www.MountTamBiotech.com
About Systemic Lupus Erythematosus (SLE)
Lupus is a chronic autoimmune disease involving many systems in the human body, including joints, kidneys, central nervous system, heart, hematological system and others. The biologic basis of the disease is a defect in the immune (defense) system, leading to production of self- (auto)-antibodies, attacking the normal organs and causing irreversible damage. This results in symptoms such as inflammation, swelling, and damage to joints and almost every major organ in the body, including the heart, kidneys, skin, lungs, and brain. According to the Lupus Foundation of America, 1.5 million Americans have the disease with more than 16,000 new cases diagnosed each year. The majority of patients are women of childbearing years.
This press release may contain "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company's actual results. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to,plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in its most recent filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.