Immuron Announces Strategic Investment In UK-Based Gut Health Company - Immuron (NASDAQ:IMRN)

Immuron Limited IMRN signed a strategic investment and option agreement with Ateria Health Limited for an upfront cash investment of £1.48 million.
The company has also announced a strategic investment of approximately £1.5 million (A$2.6 million) to acquire an initial 17.5% of Ateria Health.
Potential adjustment to share percentage for Immuron dependent on Ateria's performance during its CY2023.
Ateria Health Ltd is a U.K.-based health and wellness company that has developed a novel irritable bowel syndrome (IBS) treatment product with distribution capability in the U.K. and Australian markets with research interests in Australia.
ERME is Ateria's scientifically backed and patent-protected ingredient. It is derived from barley and comprises a mixture of natural plant-derived enzymes involved in breaking down and metabolizing foods.
The first commercial product is for the treatment of IBS. Ateria has launched its first brand JUVIA, targeting IBS in Q3 CY22 in the U.K.
The strategic investment advances Immuron's objective to enter the broader IBS market and strengthen the distribution of Immuron's Travelan products through B2C online platforms and pharmacy and retail channels in target markets.
Immuron has an option to invest a further £1.47 million, expiring on 31 July 2023
Immuron offered a second Ateria board seat upon exercise of this option.
Price Action: IMRN shares are down 1% at $1.98 on the last check Thursday.