August 31, 2021
Golden, Colorado-August 31, 2021- Vitro Biopharma, Inc. ("Vitro') announced the acquisition of Fitore Nutrition ("Fitore") and Infinivive MD ("Infinivive"). Fitore, a private company headquartered in Denver, Colorado creates clinically validated supplements and sells them direct to consumers (D2C) via their unique digital marketing platform and SEO expertise.
Infinivive, located in Cherry Creek, Colorado developed the world's first topical cosmetic stem cell serum and is a nationally recognized company led by one of the top industry pioneers in the area of cosmetic surgery, Dr. Jack Zamora M.D.
These two acquisitions will drive significant new revenues to Vitro, funding its therapeutic pipeline and expanding Vitro's overall stem cell regenerative capabilities. Vitro acquired Fitore Nutrition for $2,300,000 in a combination of notes and stock and Infinivive MD for $5,750,000 in an all-stock deal.
"The acquisition of Fitore & Infinivive gives us the opportunity to leverage the revenues of both companies, increase market awareness for Vitro, and cross sell the regenerative therapies of AlloRx Stem Cells®" said Jack Zamora C.E.O. of Vitro Biopharma.
Vitro's acquisition of Fitore and Infinivive brands makes strategic sense for Vitro as it helps to (1) leverage synergies across therapeutic outcomes and bio-supplements, (2) is consistent with management's M&A growth strategy of high growth and high margin acquisitions with a focus on ecommerce capabilities, (3) provides Vitro with a significant online presence thereby expanding Vitro's branding footprint.
"The integration of Fitore's direct to consumer (D2C) technology platform will accelerate Vitro's product penetration and brand recognition into the marketplace for all its products. To date we have had an incredibly successful partnership with Vitro with the joint development of Stemulife™ formerly known as STEMulize™, and Spectrum +™. Partnering with Vitro Biopharma only accelerates our mission as we continue to develop more life-changing products based on Vitro's scientific capabilities and the expanding market demands for natural health products." said Tanner Haas C.E.O. of Fitore Inc.
"Fitore and Infinivive will allow Vitro deeper access into the direct-to-consumer market channels and complement Vitro's existing revenue drivers. The consolidated results of all operations are expected to drive $3-$5M in revenue over the next 12 to 18 months, a 300% plus increase in our pre-pandemic revenues." said John Evans C.F.O. and Chairman of the Board of Vitro Biopharma.
ABOUT VITRO BIOPHARMA
Vitro Biopharma is a clinical-stage biotechnology company focused on developing novel and proprietary best-in-class natural regenerative products. Vitro develops and commercializes adult stem cell technology for applications in stem cell research and drug development for the treatment of a vast variety of diseases and conditions. The company's innovative and proprietary technology platform manufactures umbilical cord derived stem cells, AlloRx Stem Cells®, used in regenerative clinics to treat a variety of disease indications.
The companies partnered clinics continue to expand and these wellness clinics utilize our cosmetic and nutraceutical products in conjunction with their regenerative therapies. A patient enjoys a beautiful foreign destination experiencing a regenerative treatment with AlloRx Stem Cells® along with a spa backdrop featuring a topical cosmetic facial and supporting long term nutraceutical stem cell activator.
The offshore revenues support our clinical work in the US market. Authorization of our recent IND for COVID-19 now positions the company to move forward with Phase I and Phase II clinical trials for disease indications that have shown safety and efficacy in our offshore trials.https://www.vitrobiopharma.com/pages/pipeline
ABOUT FITORE NUTRITION
Fitore Nutrition is a direct to consumer (D2C) and SEO technology platform that creates clinically validated supplements that are formulated by world-leading doctors and stem cell scientists from Vitro Biopharma. Each Fitore nutrition ingredient is all-natural, sustainably-sourced, and of the highest-quality, manufactured in a GMP and FDA Registered facility in Commak New York. In 2021, Fitore sells its products direct to consumers through its unique digital marketing platform. Fitore Nutrition's novel formulations include: Stemulife, Thought Calmer, Easy Sleep, and Spectrum +.
ABOUT INFINIVIVE MD
InfiniVive MD has created the highest quality cGMP-grade cosmetic stem cell and exosomes product line. InfiniVive MD cosmetic stem cell products contain ultra-pure mesenchymal stem cells and exosomes to be used topically by plastic surgeons, cosmetic surgeons, and aestheticians throughout the United States and internationally. Infinivive is looking to disrupt the cosmetic industry through next level skin quality results.
Statements herein regarding financial performance have not yet been reported to the SEC nor reviewed by the Company's auditors. Certain statements contained herein, and subsequent statements made by and on behalf of the Company, whether oral or written may contain "forward-looking statements". Such forward-looking statements are identified by words such as "intends," "anticipates," "believes," "expects" and "hopes" and include, without limitation, statements regarding the Company's plan of business operations, product research and development activities, potential contractual arrangements, receipt of working capital, anticipated revenues, and related expenditures. Factors that could cause actual results to differ materially include, among others, acceptability of the Company's products in the marketplace, general economic conditions, receipt of additional working capital, the overall state of the biotechnology industry and other factors set forth in the Company's filings with the Securities and Exchange Commission. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.
Dr. Jack Zamora, MD
Chief Executive Officer Vitro Biopharma, Inc.
(303) 999-2130 x1
SOURCE: Vitro Biopharma, Inc.
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Vitro Biopharma, Inc. announced receipt of FDA authorization and clearance to enroll patients in its phase I-IIa, randomized, double-blinded, placebo controlled study of the safety and efficacy of therapeutic treatment with AlloRx Stem Cells® in adults with COVID-19. Our Investigational New Drug (IND) application will investigate the clinical effects of AlloRx Stem Cells® by studying safety and efficacy in patients with moderate to severe COVID-19.