Vancouver, BC -- (SBWire) -- 01/05/2017 --M Pharmaceutical Inc., (the "Company" or "M Pharma"), is announcing today that the company has executed on a Letter of Intent to acquire the assets of Cincinnati based private research and development partnership 40J's LLC (and related companies & technologies). In return for approximately 80 million shares and $1.5 million in cash to be issued or paid over the next two years, together with certain milestone payments, the Company will acquire 100% of the worldwide rights to these products and technologies. The transaction is subject to due diligence, exchange approval and other normal closing requirements for transactions of this nature.
Over the past 17 years, 40J's, its co-companies and principals have developed numerous patented and patent pending technologies for a wide range of medical concerns with a focus on female and male reproductive health, diabetes, weight loss and other quality of life concerns.
"This acquisition is a very exciting advancement for M Pharma", said Gary Thompson CEO of M Pharmaceutical USA. "Like M Pharma, 40J's is a company committed to developing and commercializing innovative treatments and technologies to offer patients and consumers effective solutions to quality of life concerns; these are based on the overreaching principles of reduced invasiveness and improved effectiveness. The companies' extensive list of patented and patent pending technologies not only builds upon M Pharma's current pipeline of product innovation, but also brings current distribution partners & ongoing business development, harmonizes operations and R&D initiatives, and adds existing inventory & revenue to our bottom line," said Mr. Thompson.
About M Pharmaceutical Inc.
Formed in early 2015, M Pharmaceutical Inc. is a clinical-stage company developing innovative technologies for obesity and weight management. In addition to its recent acquisition of C-103, a reformulation of orlistat from Chelatexx, LLC, the Company will focus on the development of its Trimeo capsules, temporary controllable pseudobezoars for non-invasive gastric volume reduction for the treatment of obesity, for which it has exclusive rights. The Company has also recently acquired an FDA cleared fertility product branded as ToConceive that represents its first offering in the women's health field.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the commercialization of the rights to the company's biomedical & drug technologies, and the acquisition of the rights to a new product. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on http://www.sedar.com and the Company's filings to the CSE at http://www.cnsx.ca. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.
M Pharmaceutical Inc. Enters Into Exclusive Negotiations to Acquire 40J's LLC