Title: Healthcare Companies INVO Bioscience and NAYA Biosciences Announce Merger Agreement
INVO Bioscience and NAYA Biosciences, two prominent healthcare services companies, have recently revealed their definitive merger agreement. The merger will create a new company named NAYA Biosciences, whose primary objective will be to enhance patient accessibility to treatments in the fields of oncology, fertility, and regenerative medicine.
NAYA Biosciences has outlined extensive plans to expand profitable revenues in the fertility sector. The company aims to enter revenue-generating pharmaceutical partnerships and actively develop and acquire synergistic technologies and companies. The shareholders of NAYA Biosciences will receive 7.3333 shares of INVO for each share of NAYA Biosciences.
Dr. Daniel Teper, the current Chairman & CEO of NAYA Biosciences, will assume the position of Chairman & CEO of the combined company. However, the successful completion of the merger hinges on several closing conditions, including shareholder approval and securing appropriate financing arrangements.
This merger is expected to fortify INVO Bioscience’s fertility operations and advance the development of NAYA Biosciences’ portfolio of oncology therapeutics. Notably, NAYA Biosciences has recently acquired two clinical-stage bispecific antibody assets for treating Hepatocellular Carcinoma and Multiple Myeloma from Cytovia Therapeutics.
Pending approval, the merger is scheduled to conclude in Q4 2023 and has been unanimously endorsed by the boards of both companies. The Board of Directors for the combined company will consist of six directors nominated by NAYA and one nominated by INVO.
Legal counsel for INVO Bioscience is provided by Glaser Weil Fink Howard Jordan & Shapiro LLP, while Pearl Cohen is serving as legal counsel to NAYA Biosciences.
INVO Bioscience primarily focuses on expanding access to assisted reproductive technology worldwide, with its proprietary technology, INVOcellยฎ, enabling the incubation of oocytes and sperm within a woman’s body.
For detailed information about the merger, interested parties can refer to the Current Report filed by INVO with the SEC.
Through this merger, both the fertility and newly acquired oncology operations are expected to receive increased capital. The combination of INVO’s fertility clinics and INVOcellยฎ device with NAYA’s expertise in biology, cell and gene therapy, and artificial intelligence will accelerate the development and commercialization of groundbreaking treatments.
NAYA Biosciences intends to achieve significant advancements in the treatment of Hepatocellular Carcinoma and Multiple Myeloma under their NAYA Oncology division, with NAYA Fertility striving to enhance access to advanced fertility care. Additionally, NAYA Regenerative Medicine is currently evaluating the acquisition of clinical-stage assets to restore biological function in patients with damaged tissues and organs.
The merger agreement is subject to regulatory and shareholder approvals, as well as securing necessary financing arrangements. INVO and NAYA will submit relevant materials to the SEC, including a registration statement filed by INVO on Form S-4, which will contain a proxy statement.
Lastly, it is important to note that INVO and NAYA directors, executive officers, and other management members may be considered “participants” in the merger solicitation. However, the merger is not a solicitation for a proxy, an offer to purchase securities, or an offer to sell securities.
With this merger, INVO Bioscience and NAYA Biosciences are poised to revolutionize the healthcare industry, advancing patient care and accessibility in the domains of fertility, oncology, and regenerative medicine.
