In a groundbreaking development set to transform patient access to cutting-edge treatments in oncology and regenerative medicine, INVO Bioscience, Inc., a distinguished healthcare services company, and NAYA Biosciences Inc., a leading player in breakthrough therapies, jointly declared today their entry into a definitive merger agreement. Following this pivotal announcement, the stock of INVO Bioscience Inc. surged an astonishing 311%. This surge underscores the market’s resounding endorsement of the merger’s potential impact.
At the time of this publication, INVO Bioscience Inc stock (INVO) has witnessed a surge.
INVO Bioscience Inc
Current Price: $2.22
Change : +1.68
Change (%): (311.11%)
Source: Tomorrow Events Market Data
According to the terms of the agreement, NAYA Biosciences’ shareholders are slated to receive 7.3333 shares of INVO for every NAYA Biosciences share held at the closing, resulting in approximately 18,150,000 shares of INVO. Once the merger is finalized, the combined entity will operate under the banner of “NAYA Biosciences.” Dr. Daniel Teper, presently serving as Chairman & CEO of NAYA Biosciences, is poised to assume the mantle of Chairman & CEO of the merged company.
The merger is contingent upon specific closing conditions, inclusive of shareholder endorsement, an anticipated sum of $5 million or more (at NAYA’s discretion) in interim private financing in INVO at a premium over INVO’s market price at the time of financing, and a private offering by the amalgamated company at a target price of $5.00. This deal values INVO at $12,373,780 and NAYA at $90,750,000. Subject to the Interim PIPE, INVO and NAYA shareholders are anticipated to hold approximately 12% and 88%, respectively, of the combined entity prior to the private offering.
Post-merger, NAYA Biosciences is charting a course to function as a NASDAQ-listed conglomerate of nimble, game-changing, high-growth firms dedicated to amplifying patient access to transformative treatments in oncology, fertility, and regenerative medicine, known collectively as “NAYA Regenerative Medicine.” The amalgamation of NAYA’s distinctive proficiencies in biology, cell and gene therapy, and artificial intelligence with INVO’s network of fertility clinics and pioneering INVOcell® medical device for intravaginal culture is poised to create a synergistic platform for expediting the clinical advancement and commercialization of these groundbreaking treatments.
The merger and the accompanying financial infusion are strategically designed to empower NAYA in fortifying INVO’s fertility operations by injecting fresh capital to expand the reach of INVO’s fertility clinic operations across the United States, while also propelling the development of NAYA’s distinctive clinical-stage portfolio of oncology therapeutics.
NAYA Oncology has recently completed the acquisition of two clinical-stage bispecific antibody assets targeting Hepatocellular Carcinoma and Multiple Myeloma from Cytovia Therapeutics. The consideration, finalized in cash and shares at a pre-agreed price of $5 in the newly merged company, underscores the significant stride in NAYA’s therapeutic offerings.
“We are thrilled by the prospect of uniting INVO and NAYA with the financial resources to advance both the fertility and newly acquired oncology operations,” remarked Steve Shum, Chairman and CEO of INVO Bioscience.
Dr. Daniel Teper, Co-Founder, Chairman, and Chief Executive Officer of NAYA Biosciences, echoed the sentiment, stating, “The merger with INVO will expedite our mission of expanding patient access to life-transforming treatments. Our increased capital access through the NASDAQ listing will enable us to scale up profitable revenues from NAYA Fertility, forge ahead towards revenue-generating pharmaceutical partnerships for our therapeutic programs, and strategically pursue the development and acquisition of complementary technologies and enterprises.”
The remarkable surge in INVO Biosciences’ stock value following the merger announcement reflects the market’s enthusiastic anticipation of the company’s promising future.