Business
Plandai Biotechnology In Non-Binding Letter of Intent to Acquire Rights to Puriblood’s Leukocyte Reduction Blood Filtration System with Plans to Address the International Blood Filtration Market
Plandai Biotechnology In Non-Binding Letter of Intent to Acquire Rights to Puriblood’s Leukocyte Reduction Blood Filtration System with Plans to Address the International Blood Filtration Market.
About this update from Plandai Biotechnology, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / May 23, 2022 / Plandai Biotechnology Inc. (OTC PINK:PLPL) (the "Company") today announced its entry into a non-binding letter of intent to enter into a new business through a proposed product and technology rights licensing agreement with the holder of rights to the unique Puriblood Leukocyte Reduction Blood Filtration System.Puriblood Medical Co., Ltd. [Taipei Exchange], develops and sells blood cell separation products including its leukocyte reduction filters for red blood cells, platelets, and whole blood, as well as real-time filtration sets for whole blood. The Puriblood Leukocyte Reduction Blood Filtration System helps ensure the quality of blood used for transfusions, by effectively removing Leukocytes from blood, thereby minimizing acute or delayed adverse transfusion reactions, including infection and death. Currently, approximately thirty countries around the world require leuko-reduction in blood supplies. Puriblood's core blood purification filters reduce up to over 99% of leukocytes, in substantially less time, with minimal blood loss, while retaining a high level of red blood cells (where a higher number of red blood cells retained is desirable). Puriblood's technology is patented in multiple strategic countries, including the United States, and cleared for marketing by the U.S. Food and Drug Administration under Section 510(k) of the Federal Food, Drug, and Cosmetic Act.Under the terms of the proposed agreement, the current holder of the worldwide rights, exclusive of Taiwan, Jessie Chiang, via entities she controls, will license to Plandai the exclusive rights to the Puriblood technology for North, Central, and South America for a period of 30 years. Upon closing of the proposed transaction, Ms. Chiang will acquire the controlling interest in the Company and will become the Company's Director, President, and Chief Executive Officer. Ms. Chiang will then appoint new members to the board of directors and will move to establish a board of advisors consisting of leading industry, finance, and business experts.Tad Mailander, the Company's CEO and director commented, "We have been very clear with our shareholders that Plandai has planned to create increased value by merging with another business entity or implementing a positive change in business direction via a new managem...