Mednow Acquires the License and Exclusive Canadian Distribution Rights for Genetic Testing Technology from TruDiagnostic™

Rhea-AI Summary

Mednow has entered a two-year investment agreement to acquire the License and Exclusive Distribution Rights of TruDiagnostic™ in Canada for a cash payment of US$150,000. This collaboration enhances Mednow's digital health offerings, allowing for epigenetic testing that quantifies aging through methylation biomarkers. The TruAge Complete Collection can provide insights into biological age, immune age, and telomere length. Mednow aims to offer a holistic healthcare ecosystem, expecting to integrate these services into its platform in Q1 2022.

Positive

• Acquisition of exclusive distribution rights for TruDiagnostic™ enhances Mednow's digital health services.
• Potential to expand Mednow's market offerings, focusing on preventive healthcare and aging analysis.
• Expected integration of TruDiagnostic™ services into Mednow's platform enhances user experience.

Negative

• None.

• TruDiagnostic™ TruAge Complete Collection is a comprehensive way for a patient to analyze methylation biomarkers to quantify the process of aging
• Mednow acquires the License and Exclusive Distribution Rights of TruDiagnostic™ for a two-year term for a cash payment of US$150,000
• Expands Mednow’s holistic healthcare offerings on its digital platform

TORONTO--(BUSINESS WIRE)-- Mednow Inc. (“Mednow” or the “Company”) (TSXV:MNOW; OTCQB:MDNWF), Canada’s on-demand virtual pharmacy, is pleased to announce the Company has signed a two-year investment agreement (the “Investment Agreement”) to acquire the License and Exclusive Distribution Rights of TruDiagnostic™ in Canada. Pursuant to the Investment Agreement, Mednow paid a one-time licensing fee of US$150,000 to TruDiagnostic™ for access and use of the TruDiagnostic™ Technology and TruDiagnostic™ Platform for the development, importation, use, marketing, sale and distribution of the Epigenetic Testing Kits.

Mednow’s strategy is to develop a digital interdisciplinary model of care. Anchored in pharmacy and supported by telemedicine and complementary health care services, having the exclusive distribution rights of TruDiagnostic™ in Canada will enhance Mednow’s approach to provide a full spectrum health care ecosystem. The Company intends to continue to build a holistic approach to patient care.

TruDiagnostic™ TruAge Complete Collection is a comprehensive way for a patient to analyze methylation biomarkers to quantify the process of aging. Aging is the number one risk factor for most chronic diseases and death. By quantifying this process, individuals can potentially predict future diseases and treat aging as a primary objective factor. The TruAge Complete collection allows everyone to look at their aging process by providing them their biological age, their immune age, and telomere length. It also includes the Dunedin Pace of Aging analysis, developed by Duke University. The Dunedin Pace of Aging analysis is the only publicly available aging algorithm trained on phenotypes and variables of health, rather than chronological age. We also offer analysis and reporting for other health and age-related biomarkers such as ability to lose weight with caloric restriction, immune cell subsets, and more.

In the first quarter of 2022, it is anticipated that Mednow’s patients will be able to: order the test on its website, have their blood specimen taken, and shipped back to the lab for testing and diagnosis. This agreement between Mednow and TruDiagnostic™ aligns with Mednow’s approach to provide a wide array of services on our easy-to-use Mednow digital platform.

“We continually endeavor unique pharmacy and healthcare solutions as part of our patient-centric approach. We recognize Canadians are expanding their initiatives when it comes to preventative medicine. By acquiring the exclusive distribution rights to TruDiagnostic™ we can deliver a solution for epigenetic testing for patients to live their healthiest life,” said Karim Nassar, Chief Executive Officer.

About Mednow Inc.
Mednow is a healthcare technology company offering virtual access with exceptional care. Designed with access and quality care in mind, Mednow.ca provides virtual pharmacy and telemedicine services, as well as doctor home visits, with convenience and through an interdisciplinary approach to healthcare that is focused on the patient experience. Mednow’s services include free at-home delivery of medications, a user-friendly interface for easy upload, transfer and refill of prescriptions, access to healthcare professionals through an intuitive chat experience, a specialized PillSmart™ system that packages prescriptions and vitamins by date and time, and doctor consultations.

To learn more, follow Mednow on LinkedIn, Twitter, Facebook, and Instagram, as well as visit www.mednow.ca/.

About TruDiagnostic™
TruDiagnostic™ is a U.S. based epigenetic testing and research company. They use a multi-omic approach to help scientists, physicians, and patients understand and benefit from the information found in the fluid epigenome. The primary focus is DNA Methylation, offering a variety of algorithms and lab services for researchers, physicians, and consumers who want the most accurate and insightful longevity analysis from a CLIA-certified and HIPAA-compliant lab. TruDiagnostic™ began with TruAge, a test that measures Biological Age by looking at Methylation. Also provided is a full suite of aging related metrics. This includes telomere length measurements, intrinsic and extrinsic age calculations, immune cell subset deconvolution, current pace of aging, and more. Aging is the number one risk factor for most chronic diseases. Using TruDiagnostic’s™ advanced epigenetic age testing algorithms, they are able to help objectively quantify age and the effects of medical interventions intended to reduce accelerated aging and the subsequent links to disease and health.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information, including statements relating to: the Company’s intention to continue to build a holistic approach to patient care, the expectation that the number of diseases attributable to people would be reduced if everyone were able to reduce their epigenetic biological age to 7 years younger than their chronological age and the expectation that the Company’s patients will be able to order the test on its website, have their blood specimen taken, and shipped back to the lab for epigenetic testing and analysis in the first quarter of 2022. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will to continue to build a holistic approach to patient care, that the number of diseases attributable to people would be reduced if everyone were able to reduce their epigenetic biological age to 7 years younger than their chronological age and that the Company’s patients will be able to order the test on its website, have their blood specimen taken, and shipped back to the lab for testing and diagnosis in the first quarter of 2022. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company will not continue to build a holistic approach to patient care as anticipated by management, that the number of diseases attributable to people would not be reduced if everyone were able to reduce their epigenetic biological age to 7 years younger than their chronological age and that the Company’s patients will not be able to order the test on its website, have their blood specimen taken, and shipped back to the lab for testing and diagnosis in the first quarter of 2022 or at all, and other risk factors set out in the Company’s final long form prospectus dated February 26, 2021 available for review on the Company’s profile at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211112005539/en/

Investor Relations Contact:

Lucy Chitilian

ir@mednow.ca

1.855.686.6300



Media Contact:

Kieran Lawler

Kieran.lawler@loderockadvisors.com

416.303.0799

Source: Mednow Inc.

FAQ

What are the details of Mednow's acquisition of TruDiagnostic™?

Mednow has acquired the License and Exclusive Distribution Rights of TruDiagnostic™ in Canada for a cash payment of US$150,000, with the agreement lasting two years.

How will Mednow's acquisition of TruDiagnostic™ impact its services?

The acquisition allows Mednow to offer epigenetic testing services that assess aging biomarkers, enhancing its digital healthcare platform.

When will Mednow's TruDiagnostic™ services be available to patients?

Mednow anticipates that patients will be able to order TruDiagnostic™ tests through its website by Q1 2022.

What is the significance of the TruAge Complete Collection?

The TruAge Complete Collection offers comprehensive analyses of aging processes, including biological age and immune system health, providing valuable insights for preventive health.

What are the expected benefits of offering TruDiagnostic™ services?

By providing access to epigenetic testing, Mednow aims to help patients monitor their health proactively and make informed decisions regarding aging and chronic disease prevention.