Statera Biopharma Shares Fall After Taking Stake In Holographic Medical Imaging

  • Statera Biopharma Inc STAB signed a binding Memorandum of Understanding with Holobeam Technologies Inc.
  • Holobeam offers holographic medical imaging and therapeutic technologies for early cancer detection, treatment, and other diseases using Holographic Energy Teleportation (HET) technology. 
  • Under the terms of the MOU, Statera will acquire a 25% interest in Holobeam for access to their technology and assist in targeting Statera drugs specifically to the site of cancer in concentrations that would not be possible under normal dosing. 
  • The MOU provides an exclusivity period of sixty (60) days for negotiating and finalizing a definitive agreement.
  • Michael Handley, President & Chief Executive Officer of Statera, said, "Holobeam's technology also has the potential to precisely deliver focused energy to the tumor cells, thus making them more susceptible to therapeutic intervention."
  • In April, Statera Biopharma entered into a non-binding term sheet with Immune Therapeutics Inc IMUN to sell its naltrexone and met-enkephalin rights.
  • Under the anticipated terms, Statera will receive an initial $2 million upfront payment and 5% of the issued and outstanding stock of Immune Therapeutics. 
  • Price Action: STAB shares are down 13.50% at $0.19 during the premarket session on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Posted In: M&ANewsPenny StocksHealth CareMoversTrading IdeasGeneralBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!