Mergers & Acquisitions ·
iSpecimen Inc. entered into an Asset Purchase Agreement with Foldlab AI Ltd. to acquire specific artificial…
ISPCiSpecimen Inc.
iSpecimen Inc. entered into an Asset Purchase Agreement with Foldlab AI Ltd. to acquire specific artificial intelligence software, models, source code, and data rights, including the Disease-Associated Protein Discovery AI Agent. The aggregate purchase price is $4,500,000, consisting of $2,000,000 in cash and $2,500,000 in common stock. Cash consideration includes an initial $750,000 payment at closing plus two milestone payments of $625,000 each, payable only upon successful delivery and acceptance of the AI products. The stock portion is issued based on a ten-day volume-weighted average price prior to closing and is subject to a five-year escrow with no leak-out. Closing is contingent on customary conditions, including stockholder approval and Nasdaq listing confirmation. iSpecimen Inc. operates in the biotechnology industry, providing AI-driven solutions for drug discovery and disease research.