Pursuant to the Agreement, Sebastiani also has an exclusive three-month period to conduct further due diligence on EvokAI, with an option to acquire EvokAI, through a reverse takeover transaction, valuing EvokAI at $70 million. In the event that Sebastiani exercises the option, such transaction would constitute a change of business under the policies of the TSX Venture Exchange (the “Exchange”) and would be subject to Exchange approval and compliance with the Exchange’s change of business policy.
“As part of our rapid evolution within the MedTech sector we are taking this major step to strengthen the company’s position to keep acquiring key companies specialized in each of the different verticals we have already identified to build a unique platform that goes beyond the use of smart technologies based on artificial intelligence and machine learning, a hub where science, biological artificial intelligence, biobanks, medical professionals, research institutions, contract research organizations, healthcare institutions, novel and intelligent medical devices, converge to accompany life expectancy growth while improving quality of life, a paradigm shift in preventing brain aging”, commented Alejandro Antalich, Co-Founder of EvokAI.
“In line with our M&A strategy, the acquisition of Advancience AG has positioned the Company one step ahead in testing human characteristics and cognition, enabling advances in medical diagnoses to the point where we can even predict human behavior. Moving forward to the next phase of growth, we are preparing a new set of strategic acquisitions to diversify our portfolio and leverage the synergies between each of the companies that play a key role in personalized, regenerative and innovative medicine, which aligns with our corporate strategy of enhancing our visibility beyond the European market, expanding our liquidity and diversifying our shareholder base on an established public market in North America”.
“Driven by execution and establishing strong and long-term relationships between extraordinary teams with diverse talent and unique skills, allow us to reinforce the fundamental pillars to manage and rapidly grow a successful public company. We have been talking to founders of companies, management teams of companies, where you can feel the passion and expertise running their businesses and at the same time a lot of excitement to join up with us. Global healthcare needs a revolution, a revolution can’t be created individually, once all the machinery be assembled in only one piece under the new public structure, expected to happen in H2 2022, all together, we are going to make this revolution happen by enabling the interaction human-machine-biology”, concluded Antalich.
About EvokAI Creative Labs Inc.
EvokAI is a MedTech AI-powered company dedicated to the development of transformational and innovative technologies for the modern healthcare sector. We deploy machine learning models to search medical data and uncover insights to help improve health outcomes, patient experiences, drug development, preclinical and clinical decisions and provide more accurate diagnoses. EvokAI tailors its AI algorithms across the whole healthcare system, from hospitals, private clinics, research institutions, pharmaceutical companies, contract research organizations, to medical professionals, patients, healthy individuals aiming at preventing any kind of disease and beyond, protecting the aging genome.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.
For more information, please contact:
EvokAI Creative Labs