MRES: M2Bio Sciences Enters into Letter of Intent to Acquire Crypto Exchange JDAX
CAPE TOWN, South Africa, June 27, 2023 /PRNewswire/ -- Institute of Biomedical Research Corp. (OTC PINK: MRES) ("Institute of Biomedical Research" or the "Company"), a nutraceutical biotechnology company focused on alternative plant-based cannabinoids, medical psilocybin and mental health therapeutic research powered by artificial intelligence, and evidence-based sustainable products and solutions, is pleased to share the following update:
M2Bio Sciences is thrilled to announce the signing of a letter of intent to acquire JDAX, a major cryptocurrency platform facilitating seamless exchange, trading, and secure storage of digital currencies.
Functioning as a cutting-edge digital marketplace, JDAX empowers users to buy, sell, and hold a wide range of cryptocurrencies. Moreover, it facilitates essential activities such as managing digital wallets, executing trades, and accessing comprehensive market data.
JDAX, the Johannesburg Digital Assets Exchange, represents a notable South African Fintech company immersed in the realms of Blockchain, Web3, and Decentralized Finance (DeFi) technologies. By positioning itself at the forefront of these advancements, M2Bio aims to accelerate the traditionally challenging and time-consuming process of natural product drug discovery. Through collaborations with prestigious universities and the support of multiple funded research chairs, the M2Bio Research Team is engaged in the extraction of bioactive compounds from an extensive collection of African plants renowned for their potential efficacy. Leveraging novel extraction methods and AI models, M2Bio exponentially enhances the pace of discovery and characterization of potentially bioactive compounds.
At this opportune moment, M2Bio aligns itself with the rapid progress of AI and its broad applications. The acquisition of JDAX is an integral part of M2Bio's overarching strategy to establish a humanity-centric enterprise. By leveraging JDAX's blockchain technology, M2Bio envisions a future where research projects can be tokenized. This allows for decentralized ownership and the potential issuance of Non-Fungible Tokens (NFTs) representing fractional ownership rights over the discovered molecules. Ze-ev Krein, an interdisciplinary scientist and the founder of JDAX, will guide M2Bio's drug discovery program and will spearhead the development of smart contracts that enable global communities to actively participate in and potentially hold ownership stakes in the transformative discoveries arising from M2Bio's research efforts.
Ze-ev Krein, drawing on his background in medicinal chemistry, computer science, economics, and law, expressed his vision for JDAX, stating: "Our ultimate goal has always been to create a platform that funds projects capable of bringing about impactful changes for humanity. M2Bio's acquisition will catalyze this ambition. As a scientist, I firmly believe that the most significant obstacle to scientific discovery lies not in the capabilities of researchers, but in the rigidity of financial systems. AI, Web3, and decentralized finance possess the power to dismantle these primitive boundaries. In this unique endeavor, we aim to lead the way in revolutionizing phytomedicine discovery."
Jeff Robinson, M2Bio Sciences, Inc CEO added: "At M2Bio we are always working on finding unique ways to deploy cutting-edge technologies in order to advance medicine. Altcoins and NFTs are here to stay and are slowly but surely becoming part of our everyday lives. Creating an NFT using the crystal structure of a molecule can serve as a fascinating way to merge science and art, showcasing the beauty and complexity of molecular structures in a digital medium. These representations can include the three-dimensional arrangement of atoms, molecular bonds, and the overall crystal lattice structure. It will appeal to a wide range of audiences, including scientists, art enthusiasts, collectors, and individuals with an interest in both fields. In addition, it plays well into the human needs for ownership and authenticity. The NFT serves as a unique digital asset that can include relevant information such as the name of the compound, its therapeutic potential, key research details, and associated images or videos. And the blockchain's immutable nature ensures that the ownership history and details associated with the NFT are securely recorded and verifiable. Without a doubt, this space will become a trillion-dollar opportunity. It feels great to be offering a real-world use case scenario to the world and not just another fatigued ape."
The closing of the acquisition is expected to take place by July 31, 2023, or sooner.
About Institute of Biomedical Research Corp./ DBA M2Bio Sciences
Institute of Biomedical Research Corp, is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids, medical psilocybin and mental health therapeutic research powered by artificial intelligence, and evidence-based sustainable products and solutions, that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx™, Medspresso™, Liviana™ brands as well as artificial intelligence powered nutrition products and solutions under the M2Biome brand. In addition, our research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness, and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research, and emerging technologies such as artificial intelligence. The Company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol "MRES".
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Forward-Looking Statements
Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences to include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
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SOURCE Institute of Biomedical Research Corp.
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