ZYUS Life Sciences Inc. ("ZYUS") announced today that it has entered into a definitive agreement to acquire the Kentucky-based healthcare technology company Revon Systems, Inc. ("Revon") in a share for share transaction. The closing date contemplated in the definitive agreement is July 31, 2019 or such other date as may be mutually agreed to between the parties, subject to the terms and conditions of the definitive agreement.
ZYUS, which is focused on the global development and commercialization of innovative and patient-focused cannabinoid-based therapeutics and product candidates, intends to utilize Revon's proprietary technology platform as a digital therapeutic patient interface and a real-time data collection platform during various future planned clinical studies and trials.
"This new proprietary platform will be used as a clinical trial tool for our product candidate addressing pain, in order to help expedite the clinical trial process and generate a stronger interface and engagement with patients," said Brent Zettl, President and CEO of ZYUS. "We are delighted to put Revon's digital expertise in the hands of ZYUS as we pursue innovative therapies to better the lives of patients," said Alec Machiels, a member of the Revon Board of Directors.