Symbols: PAOG, KALY, PURADate: July 30, 2020
PAOG Announces Acquisition Of RespRx Entering $200B Biopharma Market
Symbols: PAOG,
KALY,
PURA Sandusky, OH -- July 30, 2020 -- InvestorsHub NewsWire -- PAO Group, Inc. (
USOTC: PAOG) today announced the acquisition of RespRx from Kali-Extracts, Inc. (
USOTC: KALY).
RespRx is a treatment for Chronic Obstructive Pulmonary Disease (COPD) under development that is derived from a patented cannabis extraction method - U.S. Patent No. 9,199,960 entitled “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.” The market for COPD treatment is anticipated to reach $14 billion by 2025.
A patent application on the RespRx formulation for symptoms associated with COPD and other similar respiratory conditions has been filed. A trademark on the name RespRx as the brand name for its CBD formulation to treat the symptoms associated with COPD and other similar respiratory conditions has also been filed. The
global biopharmaceuticals market reached $186,470 million in 2017, and is forecasted to grow to $526,008 million by 2025.
The acquisition announced today is part of PAOG’s overall medical cannabis revitalization strategy. Earlier on Tuesday this week, PAOG announced the acquisition of a cannabis cultivation operation developing a proprietary cannabis cultivar from Puration, Inc. (
USOTC: PURA).
The acquisition of RespRx is an all stock deal. PAOG has purchased RexpRx from KALY for common stock. PAOG remains in negotiations with KALY about a potential comprehensive acquisition of the underlying patent from which the RespRx formula was derived.
PAOG CEO James C. DiPrima is scheduled to appear tomorrow, July 31, 2020 on MoneyTV with Donald Baillargeon to discuss the two PAOG acquisitions revitalizing PAOG's long-term medical cannabis mission by launching PAOG into the cannabis biopharmaceutical market.
MoneyTV with Donald Baillargeon is the internationally syndicated television program all about money and what makes it happen, featuring informative interviews with company CEOs and executives, providing insights into their operations and outlooks for their futures. MoneyTV is seen in over 200 million TV households in more than 75 countries.
The MoneyTV Interview will be available Friday July 31st at www.moneytv.net and will be syndicated across multiple channels and platforms.