NovAccess Global Inc. has acquired Pasadena-based StemVax Therapeutics from Innovest Global.
StemVax is a translational biotechnology company developing novel immunotherapies for brain tumor patients.
The transaction structure features the issuance of 7.5 million common restricted shares of NovAccess Global stock to Innovest Global as consideration. The disposition by Innovest allows it to direct all of its focus on its growing industrials business while retaining upside potential should NovAccess be successful in its commercialization efforts.
