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news.Abattis Bioceuticlas, a developer of neutraceutical products, has entered into a letter of intent (LOI) with Vertical Design Systems to formalize a definitive acquisition agreement and select an optimal deal structure.
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Under the LOI, Abattis has gained rights to acquire the area of BC to a BioPharma license and the Vertical Design’s equipment.
Abattis president and CEO Mike Withrow said the acquisition will enable the company to become a fully integrated Bioceutical company.
"Abattis will be able to demonstrate traceability in its raw material by growing and processing medicinal and therapeutic botanics," Withrow added.
"We can then extract bio-actives from the botanics we identify and target.
"As a result, the Company will be able to produce and sell its own proprietary and patented products."