Immune Therapeutics, Inc. (OTCMKTS:IMUN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On April 17, 2018, TNI BioTech International, Ltd. (“TNIB”), a subsidiary of Immune Therapeutics, Inc., a Florida corporation (the “Company”), effected a power of attorney (the “Power of Attorney”) which grants Fidson Healthcare Plc, a Nigerian company (“Fidson”) the authority to act on TNIB’s behalf in Nigeria with respects to Lodonal™, the Company’s lead drug candidate, including but not limited to submitting registration documents to regulatory authorities, following up on registration procedures, and all related other matters. The Power of Attorney is valid for a period of five (5) years. On May 16, 2018, Fidson formally accepted its appointment as the sole distributor of Lodonal™ in Nigeria.
Item 1.02 Termination of a Material Definitive Agreement
On October 2, 2013, the Company published a Form 8-K (the “2013 8-K”) announcing that TNIB had entered into a Distribution Agreement (the “AHAR Agreement”) with AHAR Pharma, a Nigerian company (“AHAR”), to market and distribute Lodonal™ in Nigeria. On April 17, 2018, TNIB terminated the AHAR Agreement and revoked the power of attorney that originally allowed AHAR to solely represent Lodonal™ in Nigeria on TNIB’s behalf.
About Immune Therapeutics, Inc. (OTCMKTS:IMUN)
Immune Therapeutics, Inc. is a biotechnology company. The Company is involved in the manufacturing, distribution and marketing of therapies to combat chronic, life-threatening diseases through the activation and modulation of the body’s immune system using its patented immunotherapy. The Company’s products and immunotherapy technologies are designed to improve the treatment of cancer, infections, such as human immunodeficiency virus (HIV)/acquired immuno deficiency syndrome (AIDS), chronic inflammatory diseases and autoimmune diseases. Its technology platform is built on various immunotherapies, such as Low Dose Naltrexone (LDN) and Methionine-Enkephalin (MENK). Its technology offers treatment for a range of cancers. The Company’s clinical programs involve immunotherapy with Methionine-Enkephalin (MENK) (sometimes referred to as opioid growth factor) and its Low Dose Naltrexone (LDN) product or LodonalTM, which stimulates the immune system even in patients with advanced cancer.