AngioSoma, Inc. (OTC Pink: SOAN) is a clinical stage biotechnology company, focused on improving the effectiveness of current, standard treatments. Shares jumped 162.22% through early trading on Friday, December 14, 2018. Over the past month, AngioSoma has seen an average daily volume of 432,975 shares. However, already 6.32 million shares or $149,152 in dollar volume, have traded hands through Friday morning.
Shares surged after AngioSoma announced it has entered into a partially-binding LOI with Diabetes Relief LLC, under which AngioSoma will acquire 100% of the equity interests of Diabetes Relief. Clinical trials for the Federal Drug Administration’s (FDA) approval for AngioSoma’s Liprostin™ “may be facilitated by the acquisition.” Diabetes Relief’s patented therapy “treats the root cause of diabetes, instead of just the symptoms, as conventional treatment has done.” Diabetes Relief is expected to earn $2,416,716 in gross revenue for the current year. Here is the full press release detailing the acquisition:
AngioSoma, Inc. Press Release:
Houston, TX, Dec. 14, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — AngioSoma, Inc. (OTC: SOAN) announced today the Company has entered into a partially binding letter of intent to acquire 100% of the equity interests in Diabetes Relief LLC. Diabetes Relief licenses medical facilities for the treatment of metabolic disorder, specializing in diabetes, for the use of patented protocols, processes, and intellectual property. Treatments are individualized to a patient’s condition and metabolic state. Diabetes Relief, through providing thousands of treatments, has seen vast improvements for patients. Clinical trials for FDA approval of Liprostin™, that is intended to treat Peripheral Artery Disease, or PAD, may be facilitated by the acquisition.
Gross revenue of Diabetes Relief for the current year is forecasted to be $2,416,716, for the prior year $1,900,944, and for 2015 was $213,434. Revenue growth is expected to increase substantially.
The following statements are quoted from Diabetes Relief’s patent that was issued May 16, 2017: “[I]t is apparent from the clinical results that the technique has usefulness in treating diabetic implications, including blindness and other ocular manifestations, nerve disease, cardiovascular disease, diabetic nephropathy, and poor wound healing. . . . A need exists for a kit that improves impaired hepatic glucose processing in subjects and produce superior results to those previously obtainable. The present embodiments meet those needs.”
Diabetes Relief’s patented therapy treats the root cause of diabetes, instead of just the symptoms, as conventional treatment has done. Diabetes Relief’s patients improve and they are able to escape the treadmill of treatments that do not work.
ABOUT ANGIOSOMA, INC.
AngioSoma, Inc. (https:// angiosoma.com), a Nevada corporation based in Houston, Texas, is dedicated to improving the mental and physical wellbeing of men and women. To accomplish that purpose, we are launching a line of supplements under our Somaceuticals™ common identity. Our supplements cover three industry segments: nutraceuticals, cosmeceuticals, and pharmaceuticals.
NOTICE REGARDING FORWARD LOOKING STATEMENTS
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information 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, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
Article By: Andrew Rego