ZyVersa Therapeutics Inc., a clinical stage specialty biopharmaceutical company, has announced a share purchase agreement with Williamsburg Venture Holdings to fund the clinical development of their Cholesterol Efflux MediatorTM VAR 200 for treating chronic kidney diseases. The agreement allows ZyVersa to sell up to $10 million worth of common stock over a 24-month period, with Williamsburg Venture Holdings obligated to purchase these shares at a discounted market price. This partnership aims to provide ZyVersa with a flexible source of funding to advance the clinical development of VAR 200. The company plans to use the share purchase agreement strategically to achieve key development milestones while minimizing shareholder dilution. There are no warrants or derivatives associated with the agreement, and ZyVersa retains control over the timing and amount of stock sales. The results of the clinical development are not yet presented.
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