MAULDIN, SC / ACCESSWIRE / May 4, 2022 / Xcelerate, Inc. (OTC PINK:XCRT) today announced that it signed a purchase agreement to acquire a portfolio of patents, patents pending and technology licenses from HS Pharmaceuticals LLC, a manufacturer and distributer of dermatological products for chronic wounds, burns and drug resistant infections.
“As many of our shareholders know, this acquisition is the culmination of discussions started nearly two years ago with HS Pharmaceuticals and greatly enhances XCRT’s mission of acquiring innovation at the engineering/patent level and developing it for commercialization,” said Xcelerate CEO Michael O’Shea. “HS Pharmaceuticals has been shepherding these patents for the last 10+ years in conjunction with world renowned scientists and universities and we are excited to take this amazing intellectual property to the next level.”
The portfolio consists of four issued and one pending U.S. patents, two issued and one pending European patent, as well as certain licensing agreements in conjunction with research developed by Cambridge University.
U.S. Patents
European Patents – Validated in Germany, Spain, France, the United Kingdom, Ireland, Italy
The acquisition of this new patent portfolio represents the culmination of years of research by world renowned scientists and institutions as well as millions of dollars in development costs and further enhances the Company’s existing patent and technology base. Xcelerate has issued 10 million shares of its’ restricted common stock to HS Pharmaceuticals for these assets. The relevant agreement also provides for a profit-sharing arrangement based on future earnings of the assets as well as providing a Board seat for one of HS Pharmaceuticals members.
About Xcelerate, Inc.
Xcelerate is a start-up, development stage company that has assembled an Advisory Board of internationally renowned translational clinicians and engineers to assist the Company in identifying and acquiring cutting-edge engineering technological advancements and intellectual property, most of which does not have immediately obvious applications to medical technology and clinical care. The Company goal is to acquire innovation at the engineering/patent level and develop med tech and clinical care applications.
Xcelerate has also recently acquired a 51% ownership interest in AfiyaSasa Africa, LLC a start-up medical technology and virtual health company, recently founded by Dr. Dilan Ellegala and Doyle Word. This technology is centered around patented and patent pending software that uses and incorporates artificial intelligence (“AI”) and Augmented Reality (“AR”) licensed from AdviNOW.
For more information, visit the company’s website at http://Xcelerate.Global/
SAFE HARBOR
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.
Xcelerate Contact
SOURCE: Xcelerate, Inc.
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