Entheon Biomedical Corp. Announces Agreement to Acquire Lobo Genetics Inc.

CANNANNEW REPORT

Genetic Screening Platform Technology and Data to Strengthen Entheon’s Psychedelic-Assisted Protocols   Vancouver, British Columbia–(Newsfile Corp. – June 16, 2021) – Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1) (“Entheon” or the “Company“) is pleased to announce that the Company has entered into a definitive agreement dated June 15, 2021 (the “Agreement“) with Lobo Genetics Inc. (“Lobo“), and 13089363 Canada Inc. (“Subco“), a wholly-owned subsidiary of Entheon. Pursuant to the Agreement, Entheon and Lobo will combine their respective businesses by way of a “three-cornered” amalgamation in accordance with section 185 of the Canada Business Corporations Act (the “CBCA“), as further detailed below (the “Transaction“).   Lobo brings a highly experienced and specialized team of technology experts in the fields of genetics, diagnostics, data and analytics, as well as a fully operational 5,000 sq. ft. genetics research and development and testing facility located in Mississauga, Ontario. Lobo also has various existing distribution and partner relationships both domestically and internationally that are a strategic fit with Entheon’s goal of expanding its personalized psychedelics platform globally.   In addition to the psychedelics genetic test that Lobo has developed in partnership with HaluGen Life Sciences Inc. (“HaluGen“), Lobo offers a cannabis genetic test that can provided personalized insights into an individual’s cannabis metabolism, risk and impairment, including: (a) ability to metabolize THC and CBD; (b) increased acute psychotomimetic effects and long-term risk of cannabis-induced psychosis; and (c) neurocognitive impairment including short-term memory loss.   “This acquisition supports Entheon’s genetic-driven approach to developing personalized psychedelic-assisted psychotherapeutic (PAP) protocols to treat substance use disorders while providing in-house DNA data analytics, expanded assay development and genetic research capacities,” said Chief Executive Officer of Entheon, Timothy Ko, “With the acquisition of Lobo comes the addition of key staff members and enhanced expertise in the field of genetics. With increased…

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Source : Entheon Biomedical Corp. Announces Agreement to Acquire Lobo Genetics Inc.

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