Business
DNAGO and Oncologix Tech, Inc. Announce Agreement for Business Combination to Create Publicly Listed Company Focused on Providing clinical genetic testing on all 20,000+ genes encompassing 7,000+ rare genetic diseases at affordable price
DNAGO and Oncologix Tech, Inc. Announce Agreement for Business Combination to Create Publicly Listed Company Focused on Providing clinical genetic testing on all 20,000+ genes encompassing 7,000+ rare genetic diseases at affordable price.
About this update from Oncologix Tech, Inc.
[{"type":"text","content":"\n In conjunction with the business combination agreement, the parties have several local and international commitments for new investments by institutional investors, including Digital Assets and Intellectual Property licensing. Los Angeles, California, May 02, 2022 (GLOBE NEWSWIRE) -- Oncologix Tech, Inc. (OTC: OCLG) (\"OCLG\"), an OTC Market company and DNAGO.Ai (\"DNAGO\"), a biopharmaceutical company providing clinical genetic testing on all 20,000+ genes encompassing 7,000+ rare genetic diseases at an affordable price for patients in need with DNAGO’s AI System, today announced they have entered into a definitive business combination agreement. Upon consummation of this combination, OCLG will be renamed DNAGO (the \"combined company\") and its common stock and warrants are expected to remain listed on OTC Market under the ticker symbols OCLG.  The combined company will continue DNAGO's operations and remain focused on providing clinical genetic testing on all 20,000+ genes encompassing 7,000+ rare genetic diseases at an affordable price for patients in need with DNAGO’s AI System. Following the successful combination, Mr. Frank I Igwealor resigned from the position of President and CEO of OCLG and Ms. Madeline Choi was appointed as the new Chief Executive Officer (CEO). The combined OCLG and DNAGO Company will be led by Madeline Choi, Chief Executive Officer (CEO) and her Executive Team of DNAGO \"We are grateful for the strong support from new and existing investors and the team of seasoned entrepreneurs at OCLG. We expect this transaction to accelerate the execution of DNAGO's vision to provide clinical genetic testing on all 20,000+ genes encompassing 7,000+ rare genetic diseases at an affordable price for patients in need with “DNAGO’s AI System\" said by Madeline Choi. \"We are encouraged by the public reception of our business model shown by the investors’ reaction when they learned about DNAGO vision.\" Frank I Igwealor, OCLG’s former President and CEO, said: \"OCLG evaluated multiple biotechnology and life science companies and was most impressed by the talent and technology assembled by DNAGO. We believe DNAGO could be one of the most promising innovative clinical genetic testing companies in the emerging industry sector who could conceivably make more c...