NEW YORK, NY / ACCESSWIRE / July 25, 2024 / Logiq, Inc. (OTC Markets:LGIQ) ("Logiq" or "the Company"), today announced the definitive agreement to acquire MedLab Essentials, LLC ("MedLab"), a trailblazer in cell and gene therapy innovation. Logiq will acquire MedLab through a share exchange of newly issued shares of LGIQ for 100% of MedLab's shareholder interests. MedLab will become a wholly owned subsidiary of Logiq, with key executives expected to join Logiq's senior management team.
This acquisition, valued at an estimated $100 million, marks a significant milestone for Logiq as it diversifies into the burgeoning biotech sector.
Strategic Acquisition Highlights:
Valuation and Shareholder Interest: The preliminary target valuation of MedLab is set at $100 million, with Logiq shareholders poised to retain 15% post-transaction.
Uplisting: post-transaction, the combined entity aims to meet listing qualifications for Nasdaq, CBOE, or NYSE and complete a substantial capital raise by the end of 2024.
Biotech Portfolio Expansion: This acquisition represents the first in a series of acquisitions targeting a cumulative value exceeding $750 million, focusing on biotech and cell and gene therapy (CGT) assets.
About the Transaction: Logiq will acquire MedLab through a share exchange, issuing new Logiq shares for 100% of MedLab's shareholder interests. MedLab will integrate as a wholly owned subsidiary of Logiq, with key MedLab executives joining the senior management team. Upon the closing of the transaction, Mr. Suen will step down as CEO. As the transactions proceed, the management and board of directors will be restructured to reflect expertise and focus on the cell therapy sector.
CEO Brent Suen on the Acquisition: "The successful acquisition of MedLab marks a transformative milestone for Logiq, propelling us into the lucrative biotech domain. This strategic move enables us to develop groundbreaking treatments for serious illnesses. With access to proprietary laboratory technology, generating new ways to treat patients, and enabling the customization of cell and gene therapy for longevity, anti-aging, and life extension,"
MedLab Manager Daniel Vinokur on the Merger: "This merger marks a pivotal new chapter for MedLab. Aligning with Logiq not only grants us access to capital markets essential for delivering cell and gene therapies for longevity and life extension on a global scale but also sets the stage for significant new developments and growth. Our integrated approach from R&D to commercialization ensures we address the intricate demands of this complex field. With this merger, we are poised to embark on a new journey of innovation and expansion, with more acquisitions and strategic growth initiatives on the horizon,"
Anticipated Outcomes:
Capital Raise: The combined entity plans to secure a significant capital infusion in line with the transaction.
Uplisting Goals: As part of the anticipated financing, Logiq plans to transition from OTC Markets to a Nasdaq or NYSE listing by Q1 2025, making this a logical and imminent step to enhance its market presence and investor appeal.
Additional accretive acquisitions - Targeting six additional strategic acquistions that are in process now will provide a path to significant revenues by mid-2025.
MedLab's Unique Positioning:
Valuation: MedLab has secured a preliminary gross valuation of $100 million for this transaction, reflecting its robust market potential.
Innovation in Cell-Based Therapy: MedLab is at the forefront of developing cell-based therapy products for a range of medical conditions, including challenging cancers and age-related diseases.
Advanced Treatment Platform: Utilizing autologous adipose-derived mesenchymal stem cells, MedLab's platform integrates oncolytic viruses and therapeutic components, offering a novel and effective approach to treatment.
New Direction for Logiq: Logiq, founded in November 2004, is a technology company that was previously engaged in e-commerce solutions and services. Logiq recently sold part of its technology business and decided to change its direction by targeting the medical field, specifically engaging in the business of cell and gene therapy, longevity, anti-aging, and rejuvenation. Post acquisitions, Logiq will be managed by executives and R&D scientific staff with decades of experience.
At the forefront of innovation, Logiq is dedicated to transforming the landscape of health. The company specializes in pioneering medical solutions within the realms of drug development, medical devices, and rare disease modalities. Logiq's mission is to discover, manage, and support companies that share its vision of advancing health through cutting-edge technology and research.
Business Model:
Drug Development: Focusing on innovative therapies to address unmet medical needs.
Medical Devices/Remote Monitoring: Harnessing technology to enhance patient outcomes.
Rare Diseases: Exploring new frontiers in treatment for the most challenging conditions.
Strategic Partnerships: Collaborating with industry leaders to accelerate progress.
Sales & Marketing Support: Providing comprehensive backing to ensure success in competitive markets.
Human Resources Development: Cultivating a workforce that is as dynamic as the solutions provided.
Longevity Treatments: Logiq embraces longevity medicine, a proactive approach to extend healthy lifespan through personalized health plans. This emerging field utilizes advanced AI to decode the science of aging, offering treatments that not only add years to life but life to years.
Cell and Gene Therapy: Logiq's commitment extends to cell and gene therapy, revolutionary approaches that modify or replace genetic material to combat diseases at their root. These therapies hold the promise of lasting cures, marking a new era in medical treatment.
Strategic Partnerships and Equity Stakes: Logiq's strategic partnerships are designed to foster mutual growth and innovation. The company engages with clients and organizations to:
Collaborate on Research: Join forces with entities that complement Logiq's expertise in drug development and medical devices, enhancing collective R&D capabilities.
Share Technological Resources: Utilize AI tools and other advanced technologies to improve efficiency and outcomes in medical research and patient care.
Acquire Stakes: As part of its expansion strategy, Logiq considers acquiring minority stakes in partners' infrastructure, providing them with access to Logiq's resources and expertise.
Offer Equity Stakes: In return, Logiq offers equity stakes in its holding company, creating a symbiotic relationship that drives forward the shared vision for health innovation.
This approach not only strengthens Logiq's position in the market but also creates a network of interconnected entities, all working towards revolutionizing health through advancements in longevity treatments, cell, and gene therapy.
About MedLab Essentials: MedLab Essentials harnesses the power of cell and gene therapy to treat human disease. MedLab Bio is an advanced biotechnology company with a unique approach to the development of cell-based therapy products for various human indications. The company's expertise aligns with the industry's shift towards more accessible "off-the-shelf" therapies and expansion into life extensions.
The transaction is slated for completion by August 15, 2024, subject to standard closing conditions. This acquisition is the first of six biotech-focused companies, with subsequent acquisitions already in the LOI stage.
About Logiq: Logiq Inc., headquartered in the United States, revolutionizes e-commerce and digital customer acquisition by streamlining digital advertising. The company offers comprehensive, data-driven marketing solutions and software to engage customers across various channels.
Important Cautions Regarding Forward-Looking Statements: This press release contains certain forward-looking statements and information, as defined 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, and is subject to the Safe Harbor created by those sections. This press release also contains forward-looking statements and forward-looking information that relates to Logiq's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions, and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon.
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SOURCE: Logiq, Inc.