CYduct Diagnostics, Inc. Completes Strategic Acquisition
CYduct Diagnostics (OTC PINK:CYDX) has successfully acquired the assets of HHC PREFERRED LLC, enhancing its capabilities in breast healthcare. The acquisition includes patented technology for a noninvasive device that collects nipple aspirate fluid (NAF), which is essential for proteomic analysis aimed at early breast cancer detection. This strategic move is expected to significantly improve yield rates of NAF extraction and solidify CYduct's position in the women's health market. Financial details of the agreement remain undisclosed.
- Acquisition enhances CYduct's breast healthcare technology with patented NAF extraction device.
- Potential for improved yield rates in breast cancer biomarker identification.
- Strategic positioning within the women's health sector aimed at future growth.
- None.
WESTPORT, CT / ACCESSWIRE / May 12, 2021 / CYduct Diagnostics, Inc. (OTC PINK:CYDX) is pleased to announce it has signed and closed an agreement to acquire all the assets of HHC PREFERRED LLC.
CYduct Diagnostics, an emerging innovator in the breast healthcare wellness segment of women's health, said that the assets of HHC Preferred LLC (HHC) include the technology embodied in HHC"s patented, noninvasive device that is used to obtain nipple aspirate fluid (''NAF''). CYduct expects to modify the device, significantly improving yield rates previously achieved, forming the front end of CYduct's approach to providing proteomic analysis for early identification of known biomarkers associated with breast cancer risk. NAF extracted from the mammary ducts, where nearly all breast cancer originates, provides essentially a mirror image of the microenvironment of the breast.
"This transaction signifies another step for CYduct Diagnostics in the advancement of women's breast health wellness. This action follows a string of moves that are primed to have a profound impact on the Company's future growth and positioning within this emerging dynamic market," stated CYductDX CEO Dominick Gatto.
In addition to the Intellectual property, CYductDX will acquire considerable finished goods inventory, manufacturing tooling, regulatory clearance (510k or other FDA related materials) documents, notes, customer lists, data storage (server), production molds and work-in-progress, marketing collateral, other files and tangible items. Financial terms of the Agreement were not disclosed.
About CYduct Diagnostics, Inc.: CYduct Diagnostics Inc. is a medical device company pursuing innovations within the women's healthcare market, primarily breast healthcare and wellness. CYduct is focused on breast health and wellness through new testing methods that prioritize clinical integrity and patient privacy and convenience. The Company's history is rooted in providing quality medical products to healthcare markets across the United States. For more than 30 years, from medical schools to hospitals, physicians have relied on the Company to develop medical devices, and procedural techniques for the screening, diagnosis, treatment and management of disease and medical conditions. Additional information on its line of products will be available on the Company's website at: www.cyductdx.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding the potential future plans and objectives of the Company, are forward-looking statements that involve significant risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The inability to raise additional capital, and technical complications in research, product development and validation, among other things, could prevent the implementation of strategically significant plan(s) outlined above. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Report filing and other filings with the OTC Markets Group (available at www.otcmarkets.com). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
CONTACT:
CYduct Diagnostics, Inc.
Investor Relations
(617) 360-9700
SOURCE: CYduct Diagnostics, Inc.
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FAQ
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