ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) said it has partnered with Bruder Consulting & Venture Group (BCVG) as its exclusive advisory firm for the pursuit of new strategic development partnerships.
The collaboration aims to accelerate ongoing partnership discussions and drive growth for ChitogenX's groundbreaking ORTHO-R proprietary regenerative medicine platform and associated assets.
In a statement, Philippe Deschamps, CEO of ChitogenX commented: "We are already engaged in several discussions for strategic partnerships in the development of ORTHO-R, the company's proprietary multifunctional regenerative medicine platform.
"We believe that BCVG is especially well positioned to help us facilitate and accelerate ongoing and potential new discussions given their considerable track record in creating strategic partnerships and meaningful transactions within the field of regenerative medicine. A strategic partnership is, at this point in time, the best option in our opinion to help maximize shareholder value."
ChitogenX noted that BCVG is renowned for its expertise in creating strategic partnerships within the regenerative medicine industry,
Expressing enthusiasm about representing ChitogenX and its innovative technologies, BCVG founder and CEO, Dr Scott Bruder said: "The BCVG team is excited to represent the technology, evidence, intellectual property, and other assets associated with ChitogenX. The benefits of combining bioactive cell and molecular therapies with their unique chitosan for repair and regeneration of tissues in orthopaedics, advanced wound care, aesthetics, and more is a wonderful platform to be leveraged."
While no specific timeline has been set for the conclusion of a strategic partnership, both companies are committed to exploring potential opportunities. However, there is no guarantee that this process will result in a transaction.
ChitogenX reiterated that it does not intend to provide further comments until it determines the need for additional disclosure.
Contact the author at jon.hopkins@proactiveinvestors.com