9th August 2022
Corporate Deals Mergers & Acquisitions

Sibannac Formulate LOI To Acquire SPUR Biotech

Sibannac LOI to acquire SPUR biotech

Sibannac, Inc. (OTC Pink: SNNC) officialized yesterday in a press release, an intent in acquiring SPUR Biotech, LLC, an Ohio-based developer of plant-based vaccines. Spur is already an existing marketing client of Sibannac’s Campus, its technology incubator. The Campus was created to attract clients with the aim of providing mentoring and manufacturing services and choosing a select group to pursue merger or acquisition opportunities.

SPUR is a biotechnology company developing plant-based vaccines using Controlled Environment Agriculture (CEA) to sustainably grow leafy greens and biopharmaceuticals. The vaccine under development is derived from lettuce, which is ideal for bio-reactive products. The companies previously executed an agreement wherein Sibananc, through the Campus platform, would create the market positioning for Spur’s plant-based vaccines, currently in development. The Company has monitored Spur’s progress, consistent with the Campus’ strategy to identify new technology and design a market approach, including funding, to bring new products, like Spur’s proprietary vaccine, to market.

The advantages and benefits of plant-based vaccines are that they can be grown quickly and do not require refrigeration. The administration of these vaccines is simple, as they can be taken by patients orally and do not require syringes or a professional medical visit. In addition, high-protein lettuce uses the body’s own bio-factory to create a natural immune response. This novel, plant-based approach utilizes quality-controlled hydroponic vertical farming techniques to grow organic lettuce as the carrier. This process also provides for a low manufacturing cost and utilizes existing equipment and technology whose end-product is easy and inexpensive to transport, even across the world.

As the relationship has progressed, the parties now desire to enter into an acquisition agreement wherein Sibannac will acquire up to 46.5% ownership of Spur, with an option to purchase a majority stake in vaccine company, for additional consideration comprised of stock and cash. Since the initial marketing agreement, Spur has now advanced to the trial stage in the regulatory process. Following the advancement of the science, some of the researchers from Akron University working with Spur have now become shareholders of the firm.

SPUR BioTech is creating high performance plant bio-derived products from genetically modified plant crops as attractive alternates for biopharmaceuticals. The firm’s protected IP technologies enable the biochemical tailoring of targeted molecules using a non-transgenic plant stem cell which is then genetically modified through plant crop breeding, thus yielding high thru-put propagation and rapid automated full spectrum biome crop growing. The genetic modifications are achieved in part through a DNA process called transcription.

Spur filed its final patents in June. Spur has provided Sibannac projections on the vaccine production, which reveal that millions of vaccine doses can be manufactured from lettuce grown on only two acres, demonstrating the extreme efficiency and scalability of the vaccine.

Sibannac’s CEO, David Mersky, said, “The deal with SPUR is advancing beyond our initial expectations as their primary marketer. It’s now clear that they have some extremely relevant tech that could add tremendous value to Sibannac’s health and wellness platform. Having a marketable and approved anti-viral vaccine in our arsenal will immediately differentiate Sibannac.”

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