Qualigen Enters $10B Coronary Artery Bypass Graft Market With Non-Binding MOU To Acquire Marizyme

CARLSBAD, Calif., April 01, 2025 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (NASDAQ:QLGN) (the "Company") announced today they have entered a non-binding Memorandum of Understanding (MOU) to acquire Marizyme (OTC:MRZM).

Qualigen and Marizyme have entered an MOU dated March 28, 2025. This is the logical next step in acquiring Marizyme, following on our co-marketing agreement established in 2024. Upon completion of full due diligence, we will proceed with the final structure and deal terms which will be subject to shareholder approval following the filing of an S4.

There can be no assurance that any transaction will be completed or that definitive agreements will be executed.

Marizyme's DuraGraft is an FDA cleared platform technology in the Coronary Artery Bypass Graft (CABG) market. The CABG market is over $10 billion in revenue annually. It is estimated there are more than 500,000 CABG surgeries performed every year in the US. In CABG surgery, saphenous vein graft (SVG) failure rates are a concern, with approximately 50% failing within 5 to 10 years, and between 20-40% failing within the first year. DuraGraft has the potential to change the landscape of cardiac care by preventing oxidative damage, therefore slowing the progression of vein graft failure. DuraGraft has the potential to increase hospital savings through the reduction of repeat procedures and hospital stays.

"We are extremely excited to bring Marizyme into the Qualigen Therapeutics company. Having an already FDA cleared product in our portfolio of businesses will provide the company with rapid revenue growth beginning in 2025. We look forward to providing further updates to shareholders as we make progress on completing diligence and finalizing terms of the transaction "stated Kevin Richardson II, Chief Executive Officer of Qualigen.