M Pharmaceutical Inc. recently announced it has executed on a Letter of Intent to acquire the assets of Cincinnati-based private research and development partnership 40J’s LLC and related companies & technologies. In return for approximately 80 million shares and $1.5 million in cash to be issued or paid over the next 2 years, together with certain milestone payments, the company will acquire 100% of the worldwide rights to these products and technologies. The transaction is subject to due diligence, exchange approval, and other normal closing requirements for transactions of this nature.
Throughout the past 17 years, 40J’s, its co-companies, and principals have developed numerous patented and patent-pending technologies for a wide range of medical concerns with a focus on female and male reproductive health, diabetes, weight loss, and other quality-of-life concerns.
“This acquisition is a very exciting advancement for M Pharma. Like M Pharma, 40J’s is a company committed to developing and commercializing innovative treatments and technologies to offer patients and consumers effective solutions to quality-of-life concerns; these are based on the overreaching principles of reduced invasiveness and improved effectiveness. The companies’ extensive list of patented and patent pending technologies not only builds upon M Pharma’s current pipeline of product innovation, but also brings current distribution partners and ongoing business development, harmonizes operations and R&D initiatives, and adds existing inventory and revenue to our bottom line,” said Gary Thompson, CEO of M Pharmaceutical USA.
Formed in early 2015, M Pharmaceutical Inc. is a clinical-stage company developing innovative technologies for obesity and weight management. In addition to its recent acquisition of C-103, a reformulation of orlistat from Chelatexx, LLC, the company will focus on the development of its Trimeo capsules, temporary controllable pseudobezoars for non-invasive gastric volume reduction for the treatment of obesity, for which it has exclusive rights. The company has also recently acquired an FDA-cleared fertility product branded as ToConceive that represents its first offering in the women's health field. M Pharma trades on the Canadian Securities Exchange (CSE) under the ticker symbol MQ as well as on the OTCQB as MPHMF and FWB (Frankfurt Stock Exchange) as T3F2. For more information, visit http://m-pharma.ca/.