ZYUS Life Sciences Inc. has entered into a definitive asset purchase agreement with Ehave, Inc. for ZYUS to acquire a proprietary health informatics platform. The total purchase price of CAD $3.2 million will be paid in cash, as well as stock equating to just under one percent of ZYUS’ currently outstanding shares.
The Platform contains components specifically designed to be used by medical cannabis patients to efficiently gather and verify patient-reported outcomes and experiences, evaluate treatment progress, enhance patient engagement and improve data modeling.
“One of the greatest hurdles faced by patients and clinicians is the lack of a clinical framework to provide effective and reliable dosing and administration regimes,” said Brent Zettl, Chief Executive Officer of ZYUS. “This Platform will be seamlessly incorporated into our clinical trial program and be a valuable tool for the collection of high-quality data that can be shared with patients and clinicians to validate efficacy in cannabinoid-based medicine, further strengthening ZYUS’ position as a leader in cannabinoid therapeutics.”
Closing of the acquisition remains subject to the satisfaction of customary closing conditions, including applicable regulatory approvals, and the approval of Ehave shareholders.
Date: April 01, 2019