Cosmos Health Enters the Development Phase for CCX0722, an Innovative Product for Obesity and Weight Management
CHICAGO, IL / ACCESSWIRE / November 29, 2022 / Cosmos Holdings d/b/a Cosmos Health, Inc. ("the Company") (NASDAQ:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, today announced that it has entered the development phase for CCX0722, an innovative product for obesity and weight management, based on the effectiveness of biocompatible 3D spatial fillers, from natural ingredients.
Spatial fillers are hydrophilic biopolymer grids capable of absorbing and retaining large amounts of water or biological fluids. Administration of CCX0722 is expected to reduce food intake by increasing satiety and reducing appetite. The product is being optimized in terms of its physicochemical properties and its effects on gut microflora through a series of in vitro studies and simulations. COSMOS plans to initiate clinical intervention in the fourth quarter of 2023.
The product was developed by Cloudpharm PC and collaborators states Dr. Panagiotis Zoumpoulakis, who is also the R&D Advisory Board member for Cosmos Health. Dr. Zoumpoulakis is an associate professor and Head of the department of Food Science and Technology of the University of West Attica, Greece. He holds a bachelor's degree and Ph.D. in Chemistry from the University of Patras and an MBA from the Athens University of Economics and Business. He has authored 130 peer review scientific publications and has been awarded 26 national and European grants.
"The science behind CCX0722 is new and revolutionary in the weight loss space, and our recent trials provide further assurance regarding its effectiveness" stated Greg Siokas, Chief Executive Officer of Cosmos Health. "For years many of our customers and distributors have been searching for a product to fight obesity that is natural, but also effective. We are proud to be one step closer in that endeavor. We are aiming to offer a product for obesity's unmet need with proven efficacy, tolerance and safety documented in clinical trials. We strongly believe that this product can be a leader within this multi-billion dollar market. We are privileged to have the collaboration with Cloudpharm to continue to perfect a product that will usher in a new era for Cosmos Holdings, with a focus on branded pharmaceuticals and medical technologies."
Dr. Zoumpoulakis stated; "Over the past 3 years we have been working diligently on advancing the product through various tests and optimizations, and we are most excited now regarding its potential as we begin the development stage. The use of spatial fillers in the fight against obesity is highly unique and our results thus far have been very encouraging."
According to Grand View Research, the global weight management market was valued at USD $132.7 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 9.7% over the next nine years. The worldwide increase in obesity is driving market growth for pharmaceutical and nutraceutical remedies, due to the rising prevalence of related chronic diseases such as diabetes, hypertension, and orthopedic diseases.
Furthermore, the COVID-19 pandemic and the social isolation that was implemented during lockdowns has contributed to a further increase in obesity and cardiovascular diseases. Therefore, the development of innovative and effective products for the management of obesity and related comorbidities is a challenge with socio-economic consequences.
About Cosmos Health, Inc.
Cosmos Health Inc. (NASDAQ:COSM) is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. Cosmos Health is engaged in the nutraceuticals sector through its own proprietary lines of products "Sky Premium Life" and "Mediterranation." Additionally, the Company is operating in the pharmaceutical sector through the provision of a broad line of branded generics and OTC medications and is involved in the healthcare distribution sector through its subsidiaries in Greece and UK serving retail pharmacies and wholesale distributors. Cosmos Health is strategically focused on the R&D of novel patented nutraceuticals (IP) and specialized root extracts as well as on the R&D of proprietary complex generics and innovative OTC products. Cosmos has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Health has offices and distribution centers in Thessaloniki and Athens, Greece and Harlow, UK. More information is available at www.cosmosholdingsinc.com and www.skypremiumlife.com.
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE: Cosmos Holdings, Inc.
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