CHICAGO, IL / ACCESSWIRE / June 21, 2023 / Cosmos Health Inc. ("Cosmos Health" or the "Company") (NASDAQ:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, announced today the successful completion of the second phase in the development of the CCX0722 product and its extensions, an innovative solution for obesity and weight management.
The Company believes that this represents a significant advancement in the fight against obesity and metabolic syndrome, offering a multifunctional mechanism of action. Our optimized product harnesses the power of a unique formulation that serves as an effective appetite suppressant and a catalyst for energy metabolism. By effectively absorbing and retaining substantial amounts of water, it aids in appetite control while stimulating the body's energy metabolism.
With the completion of these development phases, clinical trials for CCX0722 are scheduled to commence in the fourth quarter of 2023. This milestone represents a significant step forward in bringing this transformative product to market.
Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "Innovative research and development can have a game-changing impact for Cosmos, and our best-in-class team is up to the task of delivering groundbreaking solutions. We are one step closer to launching this transformative product, which we strongly believe can become a leader within the multi-billion-dollar obesity and weight management market. We remain steadfast in affirming our dedication to addressing the diverse needs and requirements of consumers battling obesity and metabolic syndrome. Our mission is to develop a comprehensive CCX product line that caters to the unique challenges faced by individuals seeking effective solutions for weight management. Cosmos is committed to empowering individuals to achieve healthier lives. Stay tuned for more updates on our groundbreaking CCX product line as we continue our journey towards a healthier future."
According to Grand View Research, the global weight management market was valued at USD 142.58 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 9.94% from 2023 to 2030. 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.
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 Health 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.cosmoshealthinc.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 Health Inc.
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