Entheon Biomedical to acquire Lobo Genetics

• Entheon Biomedical (OTCQB:ENTBF +2.8%) has entered into a definitive agreement to acquire personalized genetics company Lobo Genetics.
• Pursuant to the agreement, the company will issue an aggregate of 5M shares to the shareholders of Lobo.
• Under the deal, which is structured as a three-cornered amalgamation, Lobo will merge with Subco, a newly incorporated and wholly-owned subsidiary of the company.
• Following the transaction, the amalgamated company will be a wholly-owned subsidiary functioning under the name "Lobo Genetics" and carry on the business of Lobo.
• "This acquisition supports Entheon's genetic-driven approach to developing personalized psychedelic-assisted psychotherapeutic (PAP) protocols to treat substance use disorders while providing in-house DNA data analytics, expanded assay development and genetic research capacities," Chief Executive Officer of Entheon, Timothy Ko said.