SASKATOON, Saskatchewan–(BUSINESS WIRE)–ZYUS Life Sciences Inc. (“ZYUS”) announced today that it has entered into a definitive agreement to acquire the Kentucky-based healthcare technology company Revon Systems, Inc. (“Revon”) in a share for share transaction. The closing date contemplated in the definitive agreement is July 31, 2019 or such other date as may be mutually agreed to between the parties, subject to the terms and conditions of the definitive agreement.
ZYUS, which is focused on the global development and commercialization of innovative and patient-focused cannabinoid-based therapeutics and product candidates, intends to utilize Revon’s proprietary technology platform as a digital therapeutic patient interface and a real-time data collection platform during various future planned clinical studies and trials.
“This new proprietary platform will be used as a clinical trial tool for our product candidate addressing pain, in order to help expedite the clinical trial process and generate a stronger interface and engagement with patients,” said Brent Zettl, President and CEO of ZYUS. “We are delighted to put Revon’s digital expertise in the hands of ZYUS as we pursue innovative therapies to better the lives of patients,” said Alec Machiels, a member of the Revon Board of Directors.
About ZYUS Life Sciences Inc.
ZYUS is a Canadian-based life sciences company focused on the global development and commercialization of innovative cannabinoid-based therapeutics and product candidates. Through clinical research and IP development, we intend on delivering high-quality oils, gel-caps, topical creams and other cannabinoid-based therapeutics and product candidates to patients worldwide. At ZYUS, our vision is to elevate cannabinoids as a standard of care and to expand the potential of medicine in pursuit of a transformational impact on patients’ lives. ZYUS: Advancing the Science of Well-Being.
About Revon Systems, Inc.
Revon is a Kentucky-based healthcare technology company that has developed a data collection platform that integrates mobile technology and connected devices with health care services and therapies. The platform’s digital interface supports data collection for the investigation of the performance of pharmaceutical and other interventions in various patient populations. Revon’s technology platform enables digital registry services, real world evidence collection and patient reported outcomes tracking for pharmaceutical and medical device companies conducting clinical trials.
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ZYUS to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to expectations with respect to our business plans and product lines.
Often, but not always, forward-looking statements can be identified by the use of words such as “expects,” “expectation,” “anticipates,” “believes,” “intends,” “estimates,” “predicts,” “continues,” “potential,” “targeted,” “plans,” “possible” and similar expressions, or statements that events, conditions or results “will,” “may,” “could,” “would” or “should” occur or be achieved, or the negative of these terms or other comparable terminology. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements.
Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. ZYUS does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.