- Nutraceutical company AREV NanoTec (CSE:AREV) has completed an asset purchase and sale agreement with Chiron Capital Inc
- The company has acquired intellectual property, engineering knowledge, business models and trade secrets
- AREV purchased the rights title and interest to the intellectual property for C$200,000
- The acquisitions are related to extraction technology of equipment which AREV previously purchased from Alternative Extracts Inc
- AREV NanoTec’s share price was down 35.71 per cent, and trading for 9 cents per share at Thursday’s market close
Nutraceutical company AREV NanoTec (CSE:AREV) has completed an asset purchase and sale agreement with Chiron Capital Inc.
Chiron Capital is a wholly owned BC Corporation of AREV’s CEO, Mike Withrow.
Through the purchase, AREV has acquired intellectual property, engineering know-how, business models and trade secrets. AREV bought the rights title and interest to the intellectual property for C$200,000, without any encumbrances.
The acquisitions are related to extraction technology equipment which AREV previously purchased from Alternative Extracts Inc. The company thought it essential to possess the key technology and methods for the equipment which it already owns.
By owning advanced IP and technology, the company will not have to rely on vendors to make custom equipment changes. Custom changes will be necessary as AREV innovates and develops its new nanoparticulate extraction products.
The intellectual property will also allow the company to develop proprietary process high-value pharmaceutical-grade compounds. These include Fondoside -A, piperine and curcumin.
AREV has already developed methods for extracting and producing nanoparticulates from raw materials. These materials include astaxanthin, sea cucumbers, hopes, Frankincense, myrrh, ginseng, kampot pepper, turmeric and functional mushrooms.
Frankincense, the aromatic resin famous for its part in the Christian Nativity story, has a relatively unknown medical benefit. It contains a compound called viridiflorol, which showed moderate antibacterial activity against Mycobacterium tuberculosis in vitro. It is also an effective anti-inflammatory. This is just one of many medically beneficial compounds which AREV will be able to produce now.
CEO, Mike Withrow, said that AREV now has a solid competitive advantage, with its diversified biomass processing capabilities.
AREV NanoTec’s share price was down 35.71 per cent, and trading for 9 cents per share at Thursday’s market close.