Privately held Sera Labs, a leading CBD health and wellness company, announced today that it has entered into a Memorandum of Understanding for a 100% acquisition by CURE Pharmaceutical (OTC: CURR), an innovative drug delivery and development company for a total up-front consideration of $20 million, comprising $19 million in CURE stock at a valuation of $2.75 per share, and $1 million in cash, with an initial, additional commitment of $4 million for working capital in support of accelerating Sera Labs’ growth. The transaction also includes the potential for an earn out of up to $20 million in CURE stock at a valuation of $3.34 per share within two years of the closing of the acquisition, contingent upon Sera Labs achieving certain key financial targets. The structure of the earn out is designed to align risk and reward between CURE stockholders and Sera Labs’ management, with a focus on strong operational alignment and financial execution. The transaction is expected to close, subject to a definitive agreement and customary closing conditions, by the fourth quarter of 2020.
Sera Labs was founded in 2018. Net sales (unaudited) for the most recent quarter ended June 30, 2020, totaled $1.8 million, reflecting a steep sales growth trajectory and early strong reception for its novel products across the CBD-based beauty, health & wellness, and pet product markets. The increase in sales, as projected for the third and fourth quarters and beyond, is subject to this agreement’s new infusion of capital, and attributable to newly signed distribution agreements, the acceptance of additional retailers for CBD, and the explosive growth of Sera Labs’ digital opt-in subscription model, which is just beginning to show rapid growth in line with internal projections
– CURR is a new Drug Delivery Company that Improves Efficiency, Safety and Patient Experience is about to take the world by storm
CURR also has New Product Applications in the Multi-Billion Dollar Male Erectile Dysfunction Market
CURE Pharmaceutical (OTCQB: CURR), based in Oxnard, CA, is a vertically integrated drug delivery and development company committed to improving drug efficacy, safety, and patient experience through its proprietary drug dosage forms and delivery systems. CURR has an FDA- and DEA- registered, GMP manufacturing facility and is a pioneering developer of CUREform(tm), a patented drug delivery platform. CUREform(tm) includes CUREfilm(tm), one of the most advanced oral thin films on the market today; microCURE(tm), an innovative emulsion technology utilizing proprietary encapsulation techniques; and CUREpods(tm) a novel chewable delivery system.
– Innovative Medication Development & Enhancement Company.
– Patents for Extraction, Concentration & Processing of Specialized Medicinal Compounds.
– New Marketing to Mexico in Collaboration with Factoria Bogar Subsidiary.
– Balance Sheet Strengthened by $1.4 Million from June Warrant Exercise.
– New Oral Thin Film Product for the Multi Billion Dollar Erectile Dysfunction Market.
– NSF’s cGMP Certification for Dietary Supplements
– Canopy Rivers Chairman John K. Bell, FCA, FCPA, ICD.D is on CURR’s board of directors.
– CURR has over 22 Patents and Patents Pending Worldwide
– Applications in the Multi-Billion Dollar Erectile Dysfunction Market
CURR’s Chinese Patent No. ZL201480039313.6 regarding the loading of high amounts of active drug on an oral thin film using its proprietary drug delivery systems. This new patent includes the company’s lead product, CUREfilm Blue(tm), a soluble thin film for oral administration of sildenafil citrate to treat erectile dysfunction (ED) in China.
The ED drug market is expected to reach USD $6.5 billion at a 6% compound annual growth rate by 2025, according to QYResearch. The report points out that the Asia Pacific market will be one of the fastest growing markets for ED medicine. Sildenafil is leading the ED drug market worldwide with more than half of all global sales.
CURR’s CUREfilm Blue(tm) is FASTER and is expected to require less of the ED drug. This enables CURR to differentiate its oral thin film product from Sildenafil and Viagra oral soluble films.
CURR Products Fall Into Two Categories: Nutraceuticals (dietary supplements) and Pharmaceutical Medicines
CUREfilm(R) Sleep is a daily dietary supplement that delivers a unique blend of five active ingredients with the CUREfilm(r) platform to promote healthy sleep patterns. This product is launched in U.S. markets.
CUREfilm(R) D is a high-potency dietary supplement that provides 50,000 IU of Vitamin D3 delivered with the CUREfilm(r) platform.
CUREfilm(tm) Hemp delivers hemp extracts via the CUREfilm(r) dosage form. This product is launched in U.S. markets.
CUREfilm(R) β-Caryophyllene is a dietary supplement that contains 30mg of β-Caryophyllene, a powerful terpene known for its anti-inflammatory and analgesic properties.
CUREfilm(R) Blue contains 50mg of Sildenafil delivered with the CUREfilm(r) platform.
CUREfilm(r) Canna delivers synthetic and plant-derived cannabinoids in an oral thin film for pharmaceutical indications.
For more information on CURE Pharmaceutical (OTCQB: CURR) visit: http://curepharmaceutical.com