Endonovo Therapeutics inks m deal for Rio Grande Neurosciences

Endonovo Therapeutics (OTC:ENDV) said today that it agreed to pay $21.5 million to acquire Rio Grande Neurosciences and its non-invasive devices for treating brain disorders. The cash-and-stock deal calls for Endonovo to put up $1.5 million in cash, another $15 million in ENDV shares and $5 million worth of warrants. The companies signed a binding letter of intent and expect to ink a deal during the 3rd quarter; Los Angeles-based Endonovo said it issued a $500,000 note toward the purchase price and agreed to a 10% sales royalty and to assume the acquisition’s senior secured debt. Santa Fe-based Rio Grande Neurosciences already has an FDA-cleared device for treating pain and edema, Endonovo said. RGN also has a multi-coil repetitive transcranial magnetic stimulation device with a pending 510(k) application, according to a press release.…

Link to Full Article: Endonovo Therapeutics inks m deal for Rio Grande Neurosciences

Pin It on Pinterest

Share This

Join Our Newsletter

Sign up to our mailing list to receive the latest news and updates about homeAI.info and the Informed.AI Network of AI related websites which includes Events.AI, Neurons.AI, Awards.AI, and Vocation.AI

You have Successfully Subscribed!