- Mydecine Innovations Group has closed the sale of its wholly-owned subsidiary, Mindleap Health, to PanGenomic Health (NARA)
- PanGenomic acquired all of Mindleap’s outstanding shares for a purchase price of C$3,600,000, payable by the issuance of units of PanGenomic at a price of C$0.20 per unit
- Mydecine Innovations Group Inc. is a biotechnology company
- PanGenomic Health is a precision health company
- PanGenomic Health Inc. was down 2.17 per cent, trading at $0.225 at 12:57 ET
Mydecine Innovations Group has closed the sale of its wholly-owned subsidiary, Mindleap Health, to PanGenomic Health (NARA).
The sale of Mindleap is a key step towards refocusing the company’s resources on its primary strategy of discovering and developing innovative pharmaceutical psychedelic substances to meet the unmet needs of millions of patients worldwide.
“Mindleap fills a necessary void in mental health and gives users the tools they need to improve their overall health and well-being,“ noted Josh Bartch, Chairman & CEO of Mydecine.
“We are extremely proud of what we built with the Mindleap App, and the Mydecine team looks forward to watching the application flourish and grow and will provide support at every step of the way,” he added.
“We are excited about the acquisition of Mindleap as it represents a strategic addition to our PanGenomic portfolio of subsidiary businesses,” said Maryam Marissen, President & CEO of PanGenomic.
“We believe Mindleap’s technological know-how, mental health content library and marketing footprint will help us expand our reach to more users that align with PanGenomic’s Nara and PlantGx business strategies,” she added.
PanGenomic acquired all of Mindleap’s outstanding shares for a purchase price of C$3,600,000, payable by the issuance of units of PanGenomic at a price of C$0.20 per unit.
Each unit was made up of one Class A common share of PanGenomic and one share purchase warrant to purchase one additional common share at a price of C$0.30 per unit warrant share until December 8, 2024.
Upon completion of the transaction, Mydecine holds approximately 19.4 per cent of the issued and outstanding common shares.
Mydecine Innovations Group Inc. is a biotechnology company developing innovative medications and therapies to address addiction and mental health.
PanGenomic Health is a precision health company that has developed a self-care digital platform to deliver personalized, evidence-based information about natural treatments. PanGenomic’s initial focus is to support mental health.
PanGenomic Health Inc. was down 2.17 per cent, trading at $0.225 at 12:57 ET.
