Novo Integrated Sciences Acquires Majority Stake in Terragenx and Intellectual Property for FDA and Health Canada Approved Water-Soluble Iodine Micro-Nutrient

Rhea-AI Summary

Novo Integrated Sciences (NASDAQ:NVOS) has acquired a 91% stake in Terragenx and its intellectual property for a water-soluble iodine micro-nutrient, approved for over-the-counter and e-commerce distribution in the U.S. and Canada. The acquisition, valued at $3.35 per share, is expected to enhance Novo's multidisciplinary healthcare ecosystem. The iodine formulation is designed to be safely ingested, offering antibacterial and antiviral properties. CEO Robert Mattacchione emphasized the strategic importance of this acquisition for expanding their health and wellness product portfolio.

Positive

• Acquisition of 91% interest in Terragenx enhances product portfolio.
• Iodine formulation approved for over-the-counter sales increases market potential.
• Strategic expansion into health and wellness sector could drive revenue growth.

Negative

• None.

Iodine, an essential nutrient, when in aerosolized aqueous form can be safely ingested to kill bacteria and deactivate various viruses

BELLEVUE, Wash.--(BUSINESS WIRE)-- 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.

About Novo Integrated Sciences, Inc.

Novo Integrated Sciences, Inc. is pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of services and product innovation. Novo offers an essential and differentiated solution to deliver, or intend to deliver, these services and products through the integration of medical technology, advanced therapeutics, and rehabilitative science.

We believe that “decentralizing” healthcare, through the integration of medical technology and interconnectivity, is an essential solution to the rapidly evolving fundamental transformation of how non-catastrophic healthcare is delivered both now and in the future. Specific to non-critical care, ongoing advancements in both medical technology and inter-connectivity are allowing for a shift of the patient/practitioner relationship to the patient’s home and away from on-site visits to primary medical centers with mass-services. This acceleration of “ease-of-access” in the patient/practitioner interaction for non-critical care diagnosis and subsequent treatment minimizes the degradation of non-critical health conditions to critical conditions as well as allowing for more cost-effective healthcare distribution.

The Company’s decentralized healthcare business model is centered on three primary pillars to best support the transformation of non-catastrophic healthcare delivery to patients and consumers:

• First Pillar: Service Networks. Deliver multidisciplinary primary care services through (i) an affiliate network of clinic facilities, (ii) small and micro footprint sized clinic facilities primarily located within the footprint of box-store commercial enterprises, (iii) clinic facilities operated through a franchise relationship with the Company, and (iv) corporate operated clinic facilities.
• Second Pillar: Technology. Develop, deploy, and integrate sophisticated interconnected technology, interfacing the patient to the healthcare practitioner thus expanding the reach and availability of the Company’s services, beyond the traditional clinic location, to geographic areas not readily providing advanced, peripheral based healthcare services, including the patient’s home.
• Third Pillar: Products. Develop and distribute effective, personalized health and wellness product solutions allowing for the customization of patient preventative care remedies and ultimately a healthier population. The Company’s science-first approach to product innovation further emphasizes our mandate to create and provide over-the-counter preventative and maintenance care solutions.

Innovation through science combined with the integration of sophisticated, secure technology assures Novo Integrated Sciences of continued cutting edge advancement in patient first platforms.

For more information concerning Novo Integrated Sciences, please visit www.novointegrated.com. For more information on NHL, please visit www.novohealthnet.com

Twitter: https://twitter.com/novointegrated
LinkedIn: https://www.linkedin.com/company/60376520/admin/
Facebook: https://www.facebook.com/novointegrated/
Instagram: https://www.instagram.com/novointegrated/
YouTube: https://www.youtube.com/channel/UCy3wpEIfQwwaf0BZ-34OKwQ

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," “intend,” "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in Novo’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond Novo’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Novo’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Novo assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced in this press release are not incorporated by reference herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130005276/en/

Chris David, COO-President

Novo Integrated Sciences, Inc.

chris.david@novointegrated.com

(888) 512-1195

Source: Novo Integrated Sciences, Inc.

FAQ

What did Novo Integrated Sciences acquire from Terragenx?

Novo Integrated Sciences acquired 91% of Terragenx and its intellectual property for a water-soluble iodine micro-nutrient.

When did the acquisition of Terragenx by Novo close?

The acquisition of Terragenx closed on November 17, 2021.

What is the cost per share for Novo's acquisition of Terragenx and the intellectual property?

Novo acquired Terragenx and the intellectual property at $3.35 per share.

How will the iodine acquisition impact Novo's business?

The acquisition is expected to enhance Novo's health and wellness product offerings and drive growth in the market.

Is the iodine formulation FDA approved?

Yes, the iodine formulation is FDA approved for over-the-counter and e-commerce distribution.