Orlando, FL, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Immune Therapeutics, Inc. d/b/a Biostax Corp (OTC Pink: IMUN) (“Biostax”), a hub and spoke biotech development engine, sadly announces the passing of H. Louis Salomonksy, a dedicated member of its Board of Directors. Mr. Salomonksy passed away on August 31, 2023, surrounded by family and loved ones.

Mr. Salomonksy had been an invaluable asset to Biostax for the past year, serving as a member of the Board of Directors since 2022. He brought with him a wealth of knowledge, experience, and leadership, which greatly contributed to the company's recent growth and success.

Biostax expresses its deepest condolences to Mr. Salomonksy's family during this difficult time. His commitment to Biostax's mission will be remembered fondly by all who had the privilege of working alongside him. He leaves behind an enduring legacy, and Biostax will forever be grateful for his dedication and contributions.

Biostax will take steps to ensure a smooth transition in light of this loss. The Board of Directors will convene promptly to address a new appointment and ensure the continued strength and stability of the company.

About Biostax

Biostax is an innovative biopharmaceutical company that acquires and develops immune restoration pharmaceutical and medical technology (MedTech) products with a well -defined path to market. We use a hub-and-spoke business model, where the parent company (hub) holds a centralized management and administrative team, and each subsidiary (spoke) operates a specialized development team focused on individual product pipelines.

Where Biostax has a diversity of product pipelines that will provide revenue while reducing risk, our goal is to develop new therapies that provide disease remission by restoring immune balance for patients with autoimmune, inflammatory, and infectious diseases without suppressing their immune system. Restoring homeostasis or balance to the immune system is the first step to a cure by improving patients’ lives in chronic illness caused by immune dysfunction and inflammation. www.biostaxcorp.com

Forward Looking Statement

This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions, and expectations of Immune’s future economic performance, considering the information currently available to it. These statements are not statements of historical fact. Although Immune believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Immune does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Immune will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks, and uncertainties, some of which are not currently known to us, that may cause Immune’s actual results, performance, or financial condition to be materially different from the expectations of future results, performance, or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory review and approval of our prospective products, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Disclaimer

The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure, or prevent any disease.

Biostax Contact:

Noreen M. Griffin

Chief Executive Officer

ir@biostax.net

1-888-391-9355