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Emergent Health Subsidiary Evolutionary Biologics Executes Product Manufacturing Agreement with Major Player in the Regenerative Medicine Space - Expected to Generate at least $2 million in New Revenu
Emergent Health Subsidiary Evolutionary Biologics Executes Product Manufacturing Agreement with Major Player in the Regenerative Medicine Space - Expected to Generate at least $2 million in New Revenu.
About this update from Emergent Health Corp.
[{"type":"text","content":"New York, NY / May 11, 2023 / Emergent Health Corp. (OTC PINK: EMGE), a curator, developer, and marketer of products in the Regenerative Health Space announced that its subsidiary Evolutionary Biologics, Inc. (“EvoBio”), a developer, manufacturer and distributor of private label regenerative medicine products and branded state-of-the-art biologic products, created in a pharmaceutical grade laboratory and manufacturing facility has executed a Product Manufacturing Agreement with a distributor of medical devices that desires to market a MSC Exosome product from EvoBio as a private label on an exclusive basis. The Company believes the new relationship will generate at least $2 million in new revenue.Jim Morrison, former L'Oréal President and Emergent’s full time CEO stated, “Our expansion of Evolutionary Biologics has continued beyond our original strategy. As I mentioned earlier this year, we have created a relationship with a state-of-the-art laboratory which has enabled us to not only manufacture the highest quality products for ourselves, but to manufacture world class products for strategic partners that can be marketed as “private label.” This new initiative comes as we continue to prepare the company for major growth and expansion.”On Tuesday of this week, Emergent announced the engagement of BF Borgers CPA PC, a full-service audit, tax, accounting, and advisory firm, as its Public Company Accounting Oversight Board (“PCAOB”) qualified auditor to audit the Company’s PharmaZu subsidiary’s financial statement for the two-year period ending December 31, 2022 according to Generally Accepted Accounting Principles (“GAAP”). GAAP is the accounting standard adopted by the Securities and Exchange Commission (“SEC”) and is the default accounting standard used by companies based in the United States. For further information, please see press release dated May 9 , 2023.On Thursday of last week, Emergent announced the engagement of Boustead Securities LLC. to act as exclusive financial advisor with respect to a planned corporate financing transaction including the private placement of securities (“pre-IPO Financing”) and a planned $10 million initial public offering of Emergent;s subsidiary, PharmaZu and its common stock (“IPO”) that will apply for listing on NASDAQ with NO DILUTION to the Emergent Shareholders. PharmaZu ...