Innovative Phar (00399) announced that on November 12, 2024, the company, as an investor, has entered into a memorandum of understanding with the target (Niraxx. Inc.), indicating its intention to invest in the majority equity of the target.
It is reported that the target is a limited company registered in Delaware, USA, mainly engaged in (a) developing the AI-driven virtual health platform SyncWell; (b) developing the brain neural technology service platform DeepSynaps; (c) integrating photobiomodulation technology into sportswear; and (d) developing computer chips that integrate advanced technologies.
The Board of Directors believes that the potential investment and the conclusion of a formal agreement represent strategic initiatives for the group's business development and expectations for long-term cooperation with the target. This move will not only help diversify the group's business further but also expand and generate synergies with the group's existing business, also expected to bring new profit growth points to the group.
