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Therma Bright Completes Due Diligence to Acquire Medical Device Technology from Saringer Life Science Technologies Inc.
Toronto, Ontario--(Newsfile Corp. - July 9, 2020) - Therma Bright Inc. (TSXV: THRM), ("Therma ...
About this update from Therma Bright Inc.
[{"type":"text","content":"Therma Bright Completes Due Diligence to Acquire Medical Device Technology from Saringer Life Science Technologies Inc.Toronto, Ontario--(Newsfile Corp. - July 9, 2020) - Therma Bright Inc. (TSXV: THRM), (\"Therma Bright\" or the \"Company\"), a progressive medical device technology company, is pleased to announce that it has completed due diligence and will move forward with closing of the asset purchase transaction with Saringer Life Science Technologies Inc. (\"Saringer\"). As previously reported on January 15, 2020 and April 8th, 2020, the Company entered a non-binding letter of intent (\"LOI\") to acquire Benepod® pain relief technology and other medical device related technology from Saringer. The terms as outlined in the press release issued on January 15, 2020 will remain the same in the definitive agreement.More information about Saringer products can be found at:https://www.saringer.comThe transaction will be subject to TSX Venture Exchange approval.Rob Fia, CEO, commented:\"We are excited to move forward to close the transaction with Saringer and to add innovative, drug fee pain relief technology to our stable of products. Saringer's BenePod® technology is a proven pain relief technology that continues to have long life intellectual property. We expect to market BenePod® technology and Saringer's other products worldwide after the transaction closes.\"About Therma Bright Inc.Therma Bright is a progressive medical device technology company focused on providing consumers and medical professionals with quality medical devices that address their medical and healthcare needs. The Company's initial breakthrough proprietary technology delivers effective, non-invasive and pain-free skincare. Therma Bright received a Class II medical device status from the FDA for its platform technology that is indicated for the relief of the pain, itch, and inflammation of a variety of insect bites or stings. The Company received clearance for the above claims from the US FDA in 1997.Therma Bright Inc. trades on the TSXV (TSXV: THRM). For more information visit: www.thermabright.com and www.coldsores.com.For further information, please contact:Therma Bright.Rob Fia, CEO [email protected] STATEMENTSCertain statements in this news release constitute \"forward-looking\" statements. These statements relate to fu...