Sibannac, Inc. and SPUR Biotech, LLC Ink Letter of Intent to Acquire the Plant Based Vaccine Manufacturer
Scottsdale, Arizona--(Newsfile Corp. - August 3, 2022) - Sibannac, Inc. (OTC Pink: SNNC), a Nevada corporation (the "Company"), announced the following:
The Company is proud to announce the entry into a Letter of Intent with SPUR Biotech, LLC ("SPUR"), to acquire the 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 bio-technology 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 from 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."
Sibannac has also executed the deal to acquire all IP including the NOHO Aftershot from NOHO, Inc., which is pending board approvals and is expected to close within the next two weeks. The Aftershot, currently for sale direct-to-consumer through its website, has been reformulated by Gary Kehoe and his renowned formulation team out of Scottsdale, AZ. The new formula uses branded ingredients which have been clinically tested. In addition, Mr. Kehoe is in the final stages of another formulation for Sibannac, involving a relaxation product targeted to women. The product is planned to be marketed under the Company's Cherryology brand, which should be available for purchase in the Fall of 2022.
Cautionary Note Regarding Forward-Looking Statements.
This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Noho, Inc. (the "Company"), its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
Media Contact: IR@theCampusCo.com
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