Marizyme Announces the Closing of My Health Logic Acquisition Along With Initial Financing

Jupiter, FL – (NewMediaWire) – December 23, 2021 – Marizyme

Inc. (“Marizyme”

or the “Company”) (OTCQB:MRZM),

is pleased to announce the closing of its acquisition of My Health Logic Inc.,

a subsidiary of Health Logic Interactive Inc. (TSXV:CHIP.H), along with a

concurrent financing.

My Health Logic’s “lab-on-chip”

technology platform and patient-centric digital point-of-care device, MATLOC 1,

further strengthens Marizyme’s life science technology product pipeline.

Marizyme is actively seeking FDA approval for both MATLOC1 and a second

product, DuraGraft.

My Health Logic’s MATLOC and Lab-on-Chip Technology


The excitement over

microfluidics, also known as lab-on-a-chip technology, lies in its potential

for producing revolutionary, timely, accessible, and practical point-of-care

devices; devices that are patient-centric (one-to-many, rather than doctor

centric, one-to-one) and support self-care and independence. Microfluidics is a

technology for analyzing small volumes of fluids, with the potential to

miniaturize complex laboratory procedures onto a small microchip, hence

the term “lab-on-chip” (LOC).

My Health Logic’s lab-on-chip

technology is currently being developed to diagnose the three leading

biomarkers for chronic kidney disease (CKD), a disease estimated to affect 37

million Americans – or one out of every seven people – and which costs the US

public healthcare system over $80 billion a year. By combining the lab-on-chip

technology with MATLOC 1 we expect to be able to quantitatively read the two

urine biomarkers, albumin and creatine, necessary for effective CKD screening

at point-of-care with results available instantly on a patient’s smartphone.

MATLOC 2, the Company’s next

generation point-of-care device is designed to quantitatively assess eGFR using

a blood-based biomarker. eGFR is a key measure of kidney function health and/or

stage of kidney disease and is designed to provide a complete quantitative

diagnostic assessment for CKD, potentially eliminating the need for lab visits

and in-person assessment.

The COVID Pandemic massively

accelerated the ongoing transformation in Healthcare. Connected consumer

electronic devices are enabling 24/7 home-based digital healthcare. Consumers

have the desire and are now empowered to manage their own healthcare.

With MATLOC we strive to create

earlier detection and prevention of CKD, allowing patients and healthcare

systems to prevent the enormous costs of kidney failure, transplant, and/or

dialysis. After completing the technology for CKD assessment, the Company plans

to explore other biomarkers for chronic diseases to be measured at


Acquisition of Senior Officers and New Appointments of

CFO and VP of Finance

Additionally, Marizyme is pleased

to announce that David Barthel, who was appointed as Marizyme’s Chief Executive

Officer on November 10, 2021, was appointed as a member of the Company’s board of

directors on December 20, 2021.

Also, two of My Health Logic’s

senior officers, George Kovalyov, CPA, and Harrison Ross, CFA will join the

Company in leadership roles.

George Kovalyov will become

Marizyme’s CFO. Mr. Kovalyov is a founding member of the My Health Logic team

and is a CPA with cross border transaction experience. Before My Health Logic,

Mr. Kovalyov was VP of Finance for Phivida Holdings, a publicly traded Company

that raised over $19 million post its IPO and was successfully acquired. Furthermore,

Mr. Kovalyov has 11 years’ experience as a financial controller, working on

public company audits and financial statements for both US GAAP and IFRS.

Harrison Ross will become

Marizyme’s VP of Finance. Mr. Ross is another founding member of the My Health

Logic team and brings extensive knowledge of the MATLOC device and the

accompanying lab-on-chip technology. Mr. Ross has experience in both public and

private capital markets. In addition to creating another currently TSXV-listed

company, Mr. Ross spent 9 years on the buy-side managing investments at

registered firms and family offices.

Marizyme Announces Financing

Marizyme is also announcing that,

concurrent with the closing of the My Health Logic Acquisition, the Company

closed a private placement in the amount of $6 million, consisting of Units of

Convertible Notes and Warrants at a price per Unit of $1.75.  This new

investment will allow the Company to continue with its business development

needs and prepare and file with the Securities and Exchange Commission (the

“SEC”) a Form S-1 registration statement (the “Registration Statement”) for an

anticipated public offering and Nasdaq uplisting in 2022.  Subject to

satisfaction of certain conditions, the purchaser of the Units has agreed to

invest up to an additional $4 million in the Company. Specifically, the

Purchaser has agreed to subscribe for $2,000,000 in additional Units upon the

Company’s filing of the Registration Statement, and an additional $2,000,000

upon the Company’s submission of responses to a first round of comments on the

S-1 filing expected to be received from the SEC shortly after the S-1 filing.  In

connection with this investment, the company also exchanged approximately

$1,456,039 in previously-issued outstanding convertible notes and warrants in

exchange for the new Convertible Notes and Warrants.


Marizyme, Inc.


is a life science company, based in Jupiter, FL that is engaged in the

research, development and commercialization of technologies and products to

prevent, treat and diagnose diseases with unmet clinical needs. The Company’s

flagship product, DuraGraft®, is an intra-operative vascular graft storage

solution that inhibits endothelial damage and leads to improved clinical

outcomes by reducing the incidence of complications associated with vein graft

failure after bypass surgery. DuraGraft enhances coronary artery bypass grafting

(CABG) surgical outcomes by significantly reducing major adverse cardiac events

such as repeat revascularization and myocardial infarction. DuraGraft is

approved for use in the EU and several Asian countries but is not yet approved

for use in the U.S. Marizyme is also focused on the development and marketing

of products based on its clinically tested and previously patented protease

based therapeutic Krillase® platform. Krillase is not approved for use in

the U.S. For more information about Marizyme, visit

About My Health Logic

My Health Logic is developing and

commercializing consumer focused handheld point-of-care diagnostic devices that

connect to patient’s smartphones and digital continued care platforms. The

Company plans to use My Health Logic’s patent pending lab-on-chip technology to

provide rapid results and facilitate the transfer of that data from the

diagnostic device to the patient’s smartphone. The Company expects this data

collection will allow it to better assess patient risk profiles and provide

better patient outcomes. Our mission is to empower people with the ability to

get early detection anytime, anywhere with actionable digital management for

chronic kidney disease. More information about My Health Logic is available at

Forward Looking Statements

This press release contains

statements that do not relate to historical facts but are “forward-looking

statements” within the meaning of the safe harbor provisions of the U.S.

Private Securities Litigation Reform Act of 1995.  These statements can

generally (although not always) be identified by their use of terms and phrases

such as anticipate, appear, believe, continue, could, estimate, expect,

indicate, intend, may, plan, possible, predict, project, pursue, will, would

and other similar terms and phrases, as well as the use of the future

tense.  Forward-looking statements are neither historical facts nor

assurances of future performance.  Instead, they are based only on current

beliefs, expectations and assumptions regarding the future of the business of

our company, future plans and strategies, projections, anticipated events and

trends, the economy and other future conditions.  Because forward-looking

statements relate to the future, they are subject to inherent uncertainties,

risks and changes in circumstances that are difficult to predict and many of

which are outside of our control, including the risks described in our annual

and quarterly reports under the heading “Risk Factors” as filed with the

SEC.  Actual results and financial condition may differ materially from

those indicated in the forward-looking statements.  Therefore, you should

not rely on any of these forward-looking statements.  Forward-looking

statements in this press release speak only as of the date hereof.  Unless

otherwise required by law, we undertake no obligation to publicly update or

revise these forward-looking statements, whether as a result of new

information, future events or otherwise.

Bradley Richmond


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