The Company is proud to announce the entry into a Letter of Intent with SPUR Biotech, LLC (“SPUR”), an Ohio-based developer of plant-based vaccines.
SPUR is a biotechnology 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 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.
The parties are contemplating a Joint Venture, in which Sibannac would be charged with developing the branding and marketing strategy for distribution. The deal, to be structured as a Joint Venture as opposed to an acquisition, will not result in dilution to the common stock. Initial development will be focused on clinical trials after which SPUR will be seeking regulatory approval. Eric Stoll of Lifetime Branding will lead the branding effort. Mr. Stoll has extensive experience in the pharmaceutical space, having created a national campaign for Gaia Herbs, a leader in plant-derived natural products.
Sibannac’s CEO, David Mersky, said, “This deal with SPUR will take our current health and wellness platform to the next level. Having a marketable and approved anti-viral vaccine in our arsenal will immediately differentiate Sibannac and bring instant credibility to our brands.”
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