PsychedelicNewsBreaks – XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) Inks Definitive Agreement to Acquire 3a-Diagnostics

XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), a bioscience technology accelerator, has signed a definitive agreement to acquire its exclusive diagnostics development partner 3a-diagnostics GmbH, Frickenhausen, Germany. Per the terms of the definitive agreement, XPhyto will acquire all outstanding shares of 3a for EUR 400,000, to be paid immediately, and EUR 3.5 million, to be paid on closing, which is anticipated to take place on or around October 31, 2021. This acquisition will create considerable commercial development and manufacturing opportunities for XPhyto, in addition to providing improved margins on its diagnostic products. “We have collaborated closely with the 3a-diagnostics team on several diagnostics products and have found them to be a highly innovative and focused partner. The successful development and recent launch of the 25-minute PCR test COVID-ID Lab is a great example of our fruitful collaboration. We strongly believe that this acquisition will result in powerful synergies and further feed XPhyto’s diagnostic pipeline, supporting our long-term commercial growth plans.” XPhyto Therapeutics CEO Hugh Rogers stated in the news release.

To view the full press release, visit https://ibn.fm/BD2Zt

About XPhyto Therapeutics Corp.

XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.

An exclusive collaboration agreement between XPhyto and 3a-diagnostics, announced in April 2020 and amended in July 2020, paved the way for the development and commercialization of rapid, point-of-care, low-cost, and easy-to-use infectious disease screening tests which include COVID-19 diagnostics and oral dissolvable biosensors for pandemic threats and dental health applications. For more information, visit the company’s website at www.Xphyto.com.

NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://ibn.fm/XPHYF

About PsychedelicNewsWire

PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.

To receive instant SMS alerts, text “Groovy” to 888-902-4192 (U.S. Mobile Phones Only)

For more information please visit https://www.psychedelicnewswire.com

Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.psychedelicnewswire.com/Disclaimer

Do you have questions or are you interested in working with PNW? Ask our Editor

PsychedelicNewsWire (PNW)
San Francisco, California
www.psychedelicnewswire.com
415.949.5050 Office
Editor@PsychedelicWire.com

PsychedelicNewsWire is part of the InvestorBrandNetwork.