INVO Bioscience has signed a definitive merger agreement for the acquisition of 100% of the outstanding equity shares of NAYA Biosciences to establish a publicly traded life science company.
The takeover will be carried out through a reverse triangular merger of INVO’s fully-owned subsidiary with and into NAYA.
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The combined business will run as INVO’s wholly-owned subsidiary under the name NAYA Biosciences.
The combined company will focus on boosting access of patients to life-transforming therapies in the fields of oncology, fertility and regenerative medicine.
NAYA shareholders will receive 7.3333 INVO shares for each share held.
The boards of directors of the companies have granted unanimous approval for the merger, set to conclude in Q4 2023, subject to approval from the stockholders of INVO, Cytovia and NAYA.
Current NAYA Biosciences chairman and CEO Dr Daniel Teper will serve as chairman and CEO of the new combined entity.
INVO Bioscience chairman and CEO Steve Shum stated: “We are excited by the opportunity to merge INVO and NAYA with the financial resources to advance both the fertility and newly acquired oncology operations.
“We believe this combination provides the benefit of having existing revenue-generating operations from our fertility business and an ability to further grow those activities, along with the upside potential of innovative cancer therapeutics.”
