Aditxt Signs Letter of Intent to Acquire Diagnostic Technology Company


By Michael Dabaie

Aditxt Inc. announced on Monday that it has signed a non-binding letter of intent to acquire a company focused on the development of diagnostics for the early detection of diseases such as cancers and SARS-CoV-2 via point-of-care test kits. service and home/office.

The proposed acquisition would expand AditxtScore’s portfolio to include rapid home/office Covid-19 antigen test kits complementing AditxtScore for Covid-19, and other proprietary tests targeting celiac disease, H. Pylori and cancers, including ovaries and prostate. AditxtScore for Covid-19 is a proprietary immune profiling technology to provide people with information about their level of protection, Aditxt said.

Shares rose 2% to 81 cents premarket.

“The potential acquisition is technologically and commercially complementary to AditxtScore, and is one of the key elements in executing our growth plans in 2022,” said Aditxt Chief Executive Amro Albanna. “We believe rapid point-of-care testing, combined with our current capabilities, is essential to drive the transformation from reactive care to proactive, precision-focused care delivery.”

The Letter of Intent is non-binding and entering into an agreement requires due diligence, negotiations and the execution of binding definitive agreements. The parties have agreed to an exclusivity period until January 31 to reach the definitive agreement.

Aditxt said it entered into a secured credit agreement with the target company and made a secured loan of $500,000, and agreed to make additional secured loans of up to $4.5 million.

Write to Michael Dabaie at [email protected]

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