BELLEVUE, Wash.– Novo Integrated Sciences, Inc. (NASDAQ:NVOS) (the “Company” or “Novo”), pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of services and product innovation, announced today it has acquired 91% of Terragenx and the intellectual property portfolio for the unique formulation and manufacturing capability to produce a water-soluble iodine micro-nutrient that is FDA and Health Canada approved for over-the-counter and e-commerce distribution (the “Iodine IP and Patents”).
Iodine is a naturally occurring element and essential nutrient used by the thyroid gland to manufacture necessary hormones in the human body. While iodine alone cannot be ingested, Novo has acquired the intellectual property for iodine in an aqueous form that can be safely ingested and has been proven to kill viruses, bacteria and protozoa when sprayed onto your mucous membranes, the entry points for various airborne viruses. The human immune system uses iodine to deactivate viruses in the bloodstream, which may facilitate the production of antibodies for various indications.
Robert Mattacchione, Novo’s Chairman and CEO, stated, “We are pleased to acquire yet another valuable intellectual property portfolio and brand to immediately incorporate into our multidisciplinary healthcare ecosystem. Iodine has important health attributes that when administered in a water-soluble form via the nasal or oral passageways has instant benefits to combat disease, bacteria, and viruses. Already being sold in the U.S. and Canada, we strongly believe that together we will be able to accelerate the growth of the existing Iodine IP and Patent product portfolio as well as launch new products to market.”
Novo acquired a 91% interest in Terragenx through an all-share transaction at $3.35 per share which closed November 17, 2021. On the same date, Novo acquired the Iodine IP and Patents from Terence Mullins, the inventor, in an all-share transaction at $3.35 per share.
