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Posted On: 04/27/2022 12:21:28 PM
Post# of 85477
$JUPW IN A BID TO EXPAND JUPITER WELLNESS'S RESEARCH CAPABILITIES AND ENTER THE LUCRATIVE CRO BUSINESS, JUPITER WELLNESS ACQUIRED THE ASSETS OF ASCENT CLINICAL RESEARCH
JUPITER, FL / ACCESSWIRE / April 27, 2022 /Jupiter Wellness, Inc. (NASDAQ:JUPW) today announced it has concluded an Asset Purchase Agreement with Ascent Clinical Research, Inc. through which it has acquired certain clinical assets including clinical trial research contracts worth $3 million in annual revenues for a purchase price of 5% royalties on future net revenues generated by the assets.
"This strategic asset purchase agreement adds immediate revenues to Jupiter in Q2 2022 and contributes positively towards EBITDA with no upfront cash or stock acquisition cost to our company. The acquired contracts and related assets enhance Jupiter's position as a research and development powerhouse while allowing us to enter the lucrative clinical research organization business," stated Jupiter CEO Brian John.
JUPITER, FL / ACCESSWIRE / April 27, 2022 /Jupiter Wellness, Inc. (NASDAQ:JUPW) today announced it has concluded an Asset Purchase Agreement with Ascent Clinical Research, Inc. through which it has acquired certain clinical assets including clinical trial research contracts worth $3 million in annual revenues for a purchase price of 5% royalties on future net revenues generated by the assets.
"This strategic asset purchase agreement adds immediate revenues to Jupiter in Q2 2022 and contributes positively towards EBITDA with no upfront cash or stock acquisition cost to our company. The acquired contracts and related assets enhance Jupiter's position as a research and development powerhouse while allowing us to enter the lucrative clinical research organization business," stated Jupiter CEO Brian John.
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