IVRO Signs MOU to Merge With a European Based Non-Animal Testing Focused Organization
Rhea-AI Summary
InVitro International (OTCQB: IVRO) has announced signing a Memorandum of Understanding (MOU) to merge with an unnamed European-based organization specializing in non-animal testing. The target company has been operating in the European market for over 20 years. This strategic move aligns with IVRO's previously announced growth strategy focused on mergers and acquisitions.
The MOU has received unanimous approval from IVRO's Board of Directors. Financial details and timing of the merger will be disclosed upon finalization of the agreement. The company views this merger as an opportunity to expand its presence in the European market, where the non-animal testing movement originated and continues to show strong growth.
Positive
- Strategic expansion into the established European non-animal testing market
- Alignment with previously announced M&A growth strategy
- Board unanimously approved the merger MOU
Negative
- Financial terms and timing of the merger not disclosed
- Target company remains unnamed, limiting investor ability to assess deal value
News Market Reaction 1 Alert
On the day this news was published, IVRO declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Placentia, California--(Newsfile Corp. - January 14, 2025) - InVitro International (OTCQB: IVRO) previously revealed its strategic intent to accelerate organic growth by pursuing mergers and acquisitions. Today we are excited to announce our initial action to implement this strategy. InVitro International's Board of Directors unanimously approved a Memorandum of Understanding (MOU) to merge with a European based non-animal testing focused organization which has served their market for more than two decades. Details regarding costs and timing of the agreed upon MOU will continue when the agreement is finalized.
CEO W. Richard Ulmer observed: "The global movement toward the humane goal of sparing animals from safety testing began in Europe and continues to grow nicely there. InVitro International believes it can participate to a greater extent as we move forward together."
About InVitro International, Inc.
InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO's technology is commercialized globally through test kits and partner laboratory services.
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These risks and uncertainties include but are not limited to acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions and other competitive factors. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.
Company Contact:
W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236957
FAQ
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