In a significant move aimed at advancing global access to advanced fertility treatment and breakthrough therapies in oncology and regenerative medicine, INVO Bioscience, and NAYA Biosciences jointly revealed plans for a merger, alongside the appointment of Dr. Peter Kash, Ed.D., MBA, as Vice Chairman of the combined company’s Board of Directors.
Dr. Kash, an industry veteran with over 36 years of leadership experience in the biotech sector, expressed enthusiasm about joining NAYA Biosciences. “As an emerging leader in the growing Florida biosciences ecosystem, NAYA has a unique business model, with scalable revenue generation from its fertility business and disruptive clinical-stage therapeutics primed for pharma partnerships,” commented Dr. Kash. He added, “I look forward to working closely with Daniel and his leadership team on their mission to accelerate the development and commercialization of life-changing therapies through agile leadership, access to public capital, and targeted acquisitions.”
Currently serving as the cofounder and Vice Chairman of TargImmune Therapeutics (Switzerland) and Managing Director of Camelot BioCapital, Dr. Kash has played key roles in the creation and financing of several biotech companies, contributing to the development and approval of groundbreaking therapies, including the FDA-approved cancer drug Trisenox.
Under the terms of the merger agreement, subject to approvals from INVO’s, Cytovia Therapeutic, Inc’s, and NAYA’s stockholders, INVO Bioscience will acquire 100% of the outstanding equity interests in NAYA Biosciences through a reverse triangular merger. The merger will result in NAYA becoming a wholly owned subsidiary of INVO, marking a change of control.
Key closing conditions include obtaining shareholder approval, approvals from existing warrant holders, interim private financing in INVO (estimated at $5 million or more at NAYA’s discretion), and a private offering by the combined company at a target price of $5.00 per share. The merger target valuation is set at $12,373,780 for INVO and $90,750,000 for NAYA, with equity holders of NAYA expected to own approximately 88% of the issued and outstanding common stock of the combined company after the Merger.
The board of directors of both companies has unanimously approved the Merger, which is anticipated to close in the first quarter (Q1) of 2024.
Following the announcement of the merger and Dr. Kash’s appointment, the stock of INVO Bioscience experienced a surge in trading on Friday morning, reflecting investor confidence in the strategic move and the potential for enhanced growth in the biosciences sector.
At the time of this publication, INVO Bioscience Inc stock (INVO) has witnessed a surge.
INVO Bioscience Inc
Current Price: $1.75
Change : +1.06
Change (%): (154.73%)
Volume: 28.3M
Source: Tomorrow Events Market Data
Investors and stakeholders are eagerly anticipating the realization of this partnership, which aims to leverage the strengths of both companies to bring innovative treatments to the forefront of healthcare.
