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MELBOURNE, Fla. - Branded Legacy, Inc. (OTC:BLEG), a micro-cap company with a market capitalization of $0.57 million and currently rated "Weak" on InvestingPro’s Financial Health Score, announced Tuesday it has signed a non-binding Letter of Intent to acquire Bio-Legacy Evaluative Group, a health innovation company specializing in intranasal drug delivery technologies.
The proposed acquisition involves purchasing 100% of Bio-Legacy’s equity interests, assets, intellectual property, and operations in exchange for $1.5 million in Branded Legacy’s Preferred D stock, according to a company press release. The stock has shown significant volatility, with a dramatic 77.78% gain year-to-date despite a 46.67% decline over the past year, according to InvestingPro data.
The Preferred D stock will be subject to a two-year holding period and can only be converted once Bio-Legacy achieves a $40 million post-acquisition valuation as determined by an independent third-party firm.
Bio-Legacy’s primary technology is a patented all-in-one intranasal naloxone delivery device designed to address limitations in current market offerings, including high costs and inconsistent dosing. The company also develops technology for nasal administration of compounds previously limited by physical, chemical, or manufacturing challenges.
Under the terms of the agreement, Branded Legacy has committed to a $1 million research and development budget for Bio-Legacy’s initiatives, contingent upon Branded Legacy’s uplisting to the OTCQB market tier and achieving a minimum share price of $0.01 per share.
The parties aim to close the transaction within 14 days, subject to due diligence, definitive agreements, and necessary approvals.
Following the acquisition, Bio-Legacy’s CEO Amin Janmohamed is expected to assume the roles of CEO and Chairman of Branded Legacy. The company’s development timeline includes manufacturing prototyping targeted for Q3 2025, clinical trials in 2026, and market readiness for the naloxone device by Q1 2027. For deeper insights into Branded Legacy’s financial health and additional key metrics, InvestingPro subscribers have access to over 30 financial indicators and expert analysis.
The global naloxone market is projected to grow from $371 million in 2022 to over $1.16 billion by 2032, representing a compound annual growth rate of approximately 11.9%.
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