Panther Biotechnology Closes Acquisition of Trade Data Aggregator Brown Technical Media.
M2 EQUITYBITES-November 22, 2016-Panther Biotechnology Closes Acquisition of Trade Data Aggregator Brown Technical Media
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22 November 2016 - US-based drug developer Panther biotechnology, Inc. (OTC: PBYA) has closed the acquisition of US-based compliance, career advancement, and training content aggregator Brown Technical Media Corp., the company said.
Brown and Panther have executed a share exchange agreement whereby all of the outstanding capital stock of Brown will be exchanged for 32m shares of Panther common stock. Brown will be managed as a second division of Panther.
This transaction is strategically designed to diversify Panther's product opportunities and offer a more favorable risk reward profile for its shareholders.
Assuming the completion of the transaction, Panther's shareholders will have exposure to not only the clinical development of Transferrin Doxorubicin, but also a revenue generating business that has been experiencing significant growth over the last two years.
Brown Technical Media has positioned itself to be one of the only online aggregators of compliance, career advancement, and training content for tradesman and technical experts in a range of professions.
It has evolved from a seventy-year-old technical bookstore in Houston, Texas, which was purchased in 2013 by an investor group with a vision of converting the traditional brick and mortar business into an online success. Brown's mission is to defragment disparate companies in the e-learning, standards and codes market place, which currently is collectively valued at over USD 100bn globally and growing.
Panther expects the transaction to be completed during 4Q16.
Steven M. Plumb, the chief financial officer of Panther is the chief financial officer and chairman of the board of directors of Brown and also owns 45.4% of Brown's outstanding common stock.
Panther biotechnology has been focused on the acquisition and development of enhanced therapeutics for the treatment of neoplastic, autoimmune and antiviral disorders for the last two years.
Prior, it was in the business of EDGAR regulatory filings.
Panther has been focusing on its lead candidate, Transferrin Doxorubicin, which is a combination of transferrin glycoproteins with Doxorubicin for targeted delivery to tumors with the reduction of serious side effects.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 22, 2016|
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