Ingenius Biotech S.L. acquired All Of The Assets Relating to Mioxal from Innovation1 Biotech Inc. (OTCPK:IVBT) for $0.1 million on November 7, 2022. Consideration will be paid upon the first to occur of Ingenius' first sale or commercialization of the Mioxal product or Ingenius' sale, license, transfer or other disposition of the Mioxal product to a third party, and (ii) a 5 % royalty on worldwide net sales of the Mioxal product by Ingenius or a third party commencing on the date of the first sale of Mioxal products and ending on the 18-month anniversary of the last to expire of any patent covering the Mioxal products. Additionally, Ingenius agreed to release the Company from all of its liabilities and obligations relating to the Mioxal products and indemnify the Company from all claims relating to the Mioxal product following the date of the disposition. Transaction is subject to the approval of merger by Ingenius board and Innovation1 board. Meister Seelig & Fein LLP served as legal advisor to Innovation1 Biotech Inc. (OTCPK:IVBT).

Ingenius Biotech S.L. completed the acquisition of All Of The Assets Relating to Mioxal from Innovation1 Biotech Inc. (OTCPK:IVBT) on November 7, 2022.