Qualigen Therapeutics to acquire Marizyme in strategic move

CARLSBAD, Calif. - Qualigen Therapeutics, Inc. (NASDAQ: QLGN), currently valued at $2.68 million in market capitalization, has announced its intention to acquire Marizyme, Inc. (OTC: MRZM), a life science company specializing in medical devices and diagnostics. The non-binding Memorandum of Understanding (MOU), dated March 28, 2025, marks a step forward following a co-marketing agreement between the two companies established in 2024. According to InvestingPro data, Qualigen’s stock has shown strong momentum with an 8.44% return over the past week.

Marizyme’s flagship product, DuraGraft, is an FDA-cleared technology used in Coronary Artery Bypass Graft (CABG) surgeries, a market generating over $10 billion annually in the United States. With more than half a million CABG operations performed each year in the U.S., DuraGraft has the potential to reduce the high rates of vein graft failure associated with these procedures, offering cost savings for hospitals by decreasing the need for repeat surgeries and hospital stays. This acquisition could be crucial for Qualigen, which InvestingPro analysis shows has been facing financial challenges with a current ratio of 0.52 and negative EBITDA of $6.89 million.

Kevin Richardson II, CEO of Qualigen, expressed optimism about the acquisition, citing the opportunity for rapid revenue growth starting in 2025. David Barthel, CEO of Marizyme, echoed this sentiment, anticipating the commercialization strategy to unfold in the third quarter and revenue by the end of fiscal 2025. Investors looking for deeper insights can access additional financial metrics and 10+ exclusive ProTips through InvestingPro, with the company’s next earnings report scheduled for April 7, 2025.

The final structure and terms of the deal will be subject to shareholder approval and the completion of due diligence, including the filing of an S4. There is no guarantee that the transaction will be completed or that definitive agreements will be executed.

This move is expected to have a positive impact on shareholders, patients, and the healthcare system by bringing DuraGraft to the market. The information about this potential acquisition is based on a press release statement.

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