PreveCeutical Completes Acquisition Of BioGene Therapeutics

PreveCeutical Medical Inc., a health sciences company focused on creating innovative preventive and curative therapies using natural and nature-inspired products, is excited to announce the successful completion of its intellectual property asset sale. As previously shared on October 30, 2024, the transaction involved PreveCeutical, its affiliate PreveCeutical (Pvt.) Ltd., and its fully owned subsidiary, BioGene Therapeutics Inc. The deal officially closed on November 15, 2024. This marks a significant step forward in PreveCeutical's journey to deliver groundbreaking health solutions.

Under the intellectual property purchase agreement dated October 29, 2024, PreveCeutical Medical Inc., along with PreveCeutical Australia, has successfully sold specific intellectual property assets to BioGene Therapeutics Inc. The total transaction value is USD $1,353,227, which includes a cash payment of USD $500,000 (to be paid within 24 months) and the issuance of 16,000,000 common shares in BioGene at a deemed price of USD $0.0533 per share. The shares were issued at closing, and PreveCeutical plans to distribute a portion of them to its shareholders at a later date. This sale strengthens BioGene's portfolio while benefiting PreveCeutical's stakeholders.