CURE Announces Exercise of Warrants; Obtains Valuable Proprietary Formulation & Dosage Technology
CURE Pharmaceutical Holding Corp recently announced it strengthened its balance sheet with the receipt of $1.4 million in cash from the exercise of warrants to purchase 708,467 shares of CURE’s common stock held by certain stockholders of Chemistry Holdings, Inc. (Chemistry Holdings) at a reduced exercise price of $2.00 per share (which was 10 percent above the market price for CURE’s stock at closing). The warrant exercise is part of the completion of all earn-out arrangements and obligations related to CURE’s acquisition of Chemistry Holdings on May 14, 2019.
“This is a win/win for Chemistry Holdings and CURE stockholders,” said Rob Davidson, CEO of CURE. “With the acquisition of Chemistry Holdings, CURE obtained valuable proprietary formulation and dosage technology that expanded the CUREfilm platform with additional patents and know-how for improving drug absorption, efficacy, palatability, texture, and portability. The ongoing integration of our resources has enhanced CURE’s research and development capabilities, which we expect will continue to lead to new product offerings and drive potential new revenue streams.
“This progress comes on the heels of other recent positive developments, including the news of our collaboration with PMI, a subsidiary of Mexico-based Factoria Bogar, that encompasses a distribution arrangement for CURE’s wellness products in Mexico, and work on formulations that leverage the CUREform novel delivery platform for treatment of multiple GI indications using PMI’s proprietary prebiotic product from agave in combination with CBD,” Davidson concluded.
CURE is a vertically integrated drug delivery and development company committed to improving drug efficacy, safety, and patient experience through its proprietary drug dosage forms and delivery systems. CURE has an FDA- and DEA- registered, cGMP manufacturing facility and is a pioneering developer of CUREform, a patented drug delivery platform.
CUREform includes CUREfilm, one of the most advanced oral thin films on the market today; microCURE, an innovative emulsion technology utilizing proprietary encapsulation techniques; and CUREpods a novel chewable delivery system. CUREform’s combined technologies provide opportunities for both immediate and controlled-release drug delivery of a wide range of active ingredients. CURE partners with biotech, pharmaceutical, and wellness companies worldwide and has positioned itself to advance numerous therapeutic categories, including the pharmaceutical cannabis sector, with partnerships in the US, Canada, Israel, and other markets. For more information, visit www.curepharma.com.
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