ALLEN, TX / ACCESSWIRE / June 3, 2024 / Enzolytics, Inc. (OTC PINK:ENZC) ("enzolytics.com")(the "Company") is thrilled to announce that the Company and Sagaliam Acquisition Corp ("SAGA") are negotiating a landmark investment of six million US dollars ($6,000,000). This investment includes three million dollars in cash and an equivalent amount in a combination of the Company and SAGA common stock, in exchange for a non-dilutable thirty percent (30%) ownership in the International Cultural and Educational Exchange Foundation's Room Temperature Single Photon Avalanche Diode (SPAD) Project (the "SPAD Project").
A Technological Breakthrough with Far-reaching Impact
The SPAD Project represents a cutting-edge breakthrough in semiconductor technology. Room temperature SPAD technology, a recent innovation, allows for the detection of single photons at room temperature, paving the way for transformative advancements across various industries. Unlike traditional photon detection methods that require cooling, this technology dramatically enhances efficiency and reduces operational costs, making it highly attractive for applications in medical radiology, Lidar, military operations, space exploration, and security systems.
Silicon Photonics: Ushering in the Future of Semiconductors
The integration of silicon photonics into this project signifies a leap forward in semiconductor technology. Silicon photonics employs light instead of copper to transmit signals within integrated circuits (ICs), resulting in speeds up to 100 times faster and significantly reducing the heat generated by AI computing. This technology is crucial for the future of high-performance computing and AI, where managing heat and increasing speed are paramount.
Leadership and Vision
The SPAD Project will be led by Dr. Tong of the International Cultural and Educational Exchange Foundation ("ICEEF"), who brings over fifteen years of experience in CMOS technology and a decade of expertise in silicon photonics. Under Dr. Tong's leadership, the ICEEF team has become a knowledge hub for these technologies, driving innovation and setting new standards in the industry.
Strategic Collaborations and Statements
Harry Zhabilov, Chief Science Officer of ENZC and SAGA and the source of this opportunity, highlighted the vast potential: "The array of opportunities for this technology and the individuals associated with the project opens multiple doors for the combined ENZC and SAGA platforms. We are particularly excited about the potential uses in the diagnostic medical space."
Barry Kostiner, the CEO of Sagaliam, shared his enthusiasm: "I have advised technology companies focused on applications of Lidar technology to infrastructure development and geospatial information systems. Investing in the SPAD project enables a significant leap forward in Lidar and imaging technologies. Under Dr. Tong's leadership, the ICEEF team has become a knowledge hub for silicon photonics, which significantly increases speed and reduces heat, revolutionizing the industry. The addition of germanium to SPADs, a key innovation for enhancing performance at room temperatures, is well within their team's capabilities. This enhancement, combined with ICEEF and ENZC's strategic partnerships, ensures that we can make significant contributions to photonics technology."
Steve Sharabura, the CEO of Enzolytics, emphasized the transformative potential: "The medical industry applications of SPAD technology have the potential to revolutionize diagnostics and imaging. This investment is a significant addition to Enzolytics' portfolio of medical technologies, further advancing our mission to bring cutting-edge technologies to market that improve patient well-being."
About Enzolytics, Inc.
Enzolytics, Inc. is transitioning from a drug development company committed to commercializing its proprietary proteins and monoclonal antibodies to treat debilitating infectious diseases to a sales, marketing, and distribution entity focusing on medical devices, medical testing, and nutraceutical products.
Forward-Looking Statements
The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates, and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations, Company's ability to enter into a definitive business combination agreement, and Company's ability to obtain the financing necessary to consummate the potential business combination transaction. These statements are based on various assumptions and on the current expectations of Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Company. These forward-looking statements are subject to a number of risks and uncertainties, including Company's ability to enter into a definitive agreement with respect to the proposed business combination or consummate a transaction; the risk that the approval of the stockholders of Company for the potential transaction is not obtained; failure to realize the anticipated benefits of the potential transaction, including as a result of a delay in consummating the potential transaction or difficulty in integrating the businesses of Company; the amount of redemption requests made by Company's stockholders and the amount of funds remaining in Company's trust account after satisfaction of such requests; those factors discussed in Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 under the heading "Risk Factors," and other documents of Company filed, or to be filed, with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Company presently does not know or that Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Company's expectations, plans, or forecasts of future events and views as of the date hereof. Company anticipates that subsequent events and developments will cause Company's assessments to change. However, while Company may elect to update these forward-looking statements at some point in the future, Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Company's assessments as of any date subsequent to the date of this disclosure statement. Accordingly, undue reliance should not be placed upon the forward-looking statements.
CONTACT INFORMATION
Enzolytics, Inc.
Steve Sharabura, Chief Executive Officer
3002 Royal Palm
Baytown, Texas 77523
X/Twitter: @enzolyticsinc
Tel: (845) 925-4597
SOURCE: Enzolytics, Inc.
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