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Inc. Announces Expiration of Its Investment Banking Engagement Agreement
Fla.-(BUSINESS WIRE)-Oragenics, Inc. (NYSE American: OGEN), a company focused on developing unique, intranasal nanoparticle
pharmaceuticals for the treatment of neurological disorders, today announced that its engagement agreement with its investment bank has
expired and that it does not intend to extend the engagement at this time due to market conditions.
is a fully synthetic neurosteroid being developed to treat mTBI. In preclinical studies, the drug demonstrated equivalent or better neuroprotective
effects compared with related neurosteroids. Animal models of concussion showed the drug reduces the behavioral pathology associated
with brain injury symptoms such as memory impairment, anxiety and motor/sensory performance. Additionally, ONP-002 is lipophilic and
can cross the blood-brain barrier to rapidly eliminate swelling, oxidative stress and inflammation while restoring proper blood flow.
Mild Traumatic Brain Injury (mTBI)
are an unmet medical need that affects millions worldwide. Repetitive concussions can increase the risk of developing chronic traumatic
encephalopathy and other neuropsychiatric disorders. It is estimated that 5 million concussions occur in the U.S. annually and that up
to 50% go unreported. The worldwide incidence is estimated at 69 million per year. The global market for concussion treatment was valued
at $6.9 billion in 2020 and is forecast to reach $8.9 billion by 2027, according to Grandview Research. Common settings for concussion
include contact sports, military training and operations, motor vehicle accidents, children at play and elderly assistive-living facilities
Huffman, Chief Financial Officer