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Fifty 1 Labs, Inc. (FITY) Acquires Genetic Networks, Working to Secure Multi-Million Dollar DoD Contracts, and Positions for Rapid Expansion in Biotech Innovation
Fifty 1 Labs, Inc. (FITY) Acquires Genetic Networks, Working to Secure Multi-Million Dollar DoD Contracts, and Positions for Rapid Expansion in Biotech Innovation.
About this update from Fifty 1 Labs Inc.
[{"type":"text","content":"\n MELBOURNE, Fla., March 20, 2025 (GLOBE NEWSWIRE) -- via IBN -- Fifty 1 Labs, Inc. (OTC: FITY), a Nevada corporation and dynamic holding company in the health, wellness, and biotech sectors, today announced its transformative acquisition of Genetic Networks LLC, a Delaware-based biotech firm founded by Dr. Gennaro D'Urso, for a purchase price of $10 million paid in common shares. Concurrently, Dr. D'Urso has been appointed CEO and Chairman of Fifty 1 Labs, Inc., ushering in a new era of leadership, while Brandon Spikes remains President and Director. With Genetic Networks' team actively negotiating multi-million dollar contracts with the U.S. Department of Defense (DoD), this strategic move positions FITY for rapid expansion and leadership in the fast-growing biotechnology and wellness markets. Pursuing Multi-Million Dollar DoD Contracts Genetic Networks is actively negotiating multi-million dollar DoD contracts, leveraging GeneScape™ to develop biothreat countermeasures and rapid therapeutic responses for warfighters against Category A, B, and C threats. The platform's high-quality data, generated through validated SOPs, integrates with AI/ML analytics to deliver high-confidence medical countermeasures (MCMs) in the field and clinic. FITY aims to expand the GeneScape™ Drug Response Matrix (DRM) dataset, enhancing its biodefense capabilities post-acquisition. \"The DoD opportunity underscores GeneScape's strategic importance,\" said John Pirro, COO of Fifty 1 Labs, Inc. \"We're working to secure these contracts, providing capital and validation to fuel our expansion across government and commercial markets.\" Acquisition of Genetic Networks: A $10 Million Game-Changer for FITY Genetic Networks, established in 2015 by Dr. Gennaro D'Urso—a geneticist with over 25 years of expertise in yeast genetics and biological networks—and a co-founder who is a Nobel Prize-winning scientist, brings its proprietary GeneScape™ platform to FITY's portfolio. Based in Miami, Florida, with a lean team of 6 employees scalable to 50, Genetic Networks has developed cutting-edge biotechnology that integrates genomics, artificial intelligence (AI), and machine learning to accelerate drug discovery. The GeneScape™ platform, originating from Stanford University research, analyzes gene-drug interactions across 6,000 gen...