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CURE Pharmaceutical Announces the Sale of a Portion of its Platform Technology IP for $20 Million
CURE Pharmaceutical Announces the Sale of a Portion of its Platform Technology IP for $20 Million.
About this update from Avenir Wellness Solutions Inc.
[{"type":"text","content":"\n OXNARD, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- CURE Pharmaceutical Holding Corp. (OTC: CURR) (“CURE”), a proprietary platform technology company, today announced that it has sold a portion of its platform technology intellectual property and related assets for $20 million in total consideration. CURE used a portion of the cash proceeds to pay down certain debt obligations and the balance will be used to grow its intellectual property portfolio and its wellness and beauty brands. In addition, CURE retained its remaining proprietary platform technology that it intends to monetize through the commercialization of the technology or through the licensing or sale of the technology. CURE will host a conference call on August 3, 2022 to provide a full corporate update to shareholders. Details of the conference call will be made available on August 1, 2022 in a follow-up press release. For additional information, see the Current Report on Form 8-K relating to the transactions described above, which will be filed with the Securities and Exchange Commission and available on CURE’s corporate website at: www.curepharmaceutical.com/investors/sec-filings/. About CURE Pharmaceutical Holding Corp.CURE Pharmaceutical® is the pioneering developer of CUREform™, a patented drug delivery platform that offers a number of unique immediate- and controlled-release drug delivery vehicles designed to improve drug efficacy, safety, and patient experience for a wide range of active ingredients. As a vertically integrated company, CURE’s 25,000 square foot, FDA-registered, NSF® cGMP-certified manufacturing facility enables it to partner with pharmaceutical and wellness companies worldwide for private and white-labeled production. CURE has partnerships in the United States, China, Mexico, Canada, Israel, and other markets in Europe. About The Sera Labs, Inc.The Sera Labs, Inc. (“Sera Labs”), a wholly-owned subsidiary of CURE, is a trusted leader in the health, wellness, and beauty sectors of innovative products with cutting edge technology. Sera Labs creates high quality products that use science-backed, proprietary formulations. More than 25 products are sold under the brand names Seratopical™, Seratopical Revolution™ SeraLabs™, and Nutri-Strips™. Sera L...