Chay Enterprises Inc. Completes Merger With Repurposed Drug Developer Ampio Pharmaceuticals, Inc.
LITTLETON, Colo., March 4 /PRNewswire-FirstCall/ -- Chay
Enterprises, Inc. (OTC:CHYE) (BULLETIN BOARD: CHYE) is pleased to
announce today that the company has merged with DMI Life Sciences,
Inc to form Ampio Pharmaceuticals, Inc. Ampio Pharmaceuticals will
trade on the NASDAQ BB under the symbol CHYE. "We have asked FINRA
to change our symbol," said Don Wingerter, Ampio Pharmaceuticals'
CEO, "and expect to be trading under our new symbol in less than
thirty days."
"Ampio Pharmaceuticals' management has extensive experience in
drug discovery and development, and has created a substantial
pipeline of pharmaceuticals that address significant, unmet medical
needs. These pharmaceutical developments are in the category of
so-called 'Repurposed Drugs,' pharmaceuticals previously shown to
be safe and effective treatments in distinct therapeutic
categories," said Mr. Wingerter. "By entering the public space we
will have access to capital to advance our pipeline and a public
forum to educate patients and showcase our commercialization
activities."
Dr. David Bar-Or, Ampio Pharmaceuticals' founder and Chief
Scientific Officer, stated, "I have been working for over 30 years
on finding solutions to important diseases that can impact an aging
population. My role as the Director of Trauma Research at two major
Colorado Level One Trauma Centers has given me the unique
opportunity to study a variety of diseases in both clinical and
research settings."
Ampio Pharmaceuticals discovers and develops innovative
proprietary drugs for metabolic disease, eye disease, kidney
disease, inflammation and CNS disease. The company develops
Repurposed Drugs because they have strong potential to be safe and
effective while their shorter development times can significantly
increase near-term value. The product pipeline includes new uses
for previously approved drugs, some of which are now starting
clinical trials, and new molecular entities ("NMEs"). A key
strategy includes actively exploring partnership, licensing and
other collaboration opportunities to maximize the company's product
development programs. By concentrating on development of Repurposed
Drugs, approval timelines, costs and risk of clinical failure are
reduced due to the fact that the Repurposed Drug has previously
been found to be safe and effective, generally at higher dosage
rates, in distinct therapeutic categories."
Safe Harbor Statement
Certain of the above statements contained in this press release
are forward-looking statements that involve a number of risks and
uncertainties. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those indicated in the forward-looking statements as a result of
various factors.
Source: Ampio Pharmaceuticals, Inc.
CONTACT: Investors, Jens Dalsgaard of Redwood Consultants,
LLC,
+1-415-884-0348, for Ampio Pharmaceuticals
Web Site: http://www.ampiopharma.com/
Posted: March 2010
