BWV - Blue Water Biotech Signs Non-Binding Term Sheet to Acquire a Commercial Stage Oncology Company | Benzinga
CINCINNATI, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Blue Water Biotech, Inc. (NASDAQ:BWV) ("BWB" or the "Company"), today announced the execution of a non-binding term sheet regarding the acquisition of a private commercial stage oncology biotechnology company (the "Proposed Transaction"). This latest announcement is part of the Company's new business strategy focusing on oncology. The Company plans to commercialize therapeutics, diagnostics and clinician services, which will serve as the foundation for the Company's future operations.
The Proposed Transaction furthers a shift in business strategy driven by BWB's decision to align with both the market value drivers provided by its new oncology focus and the extensive life sciences company-building expertise of its new leadership team under the direction of President and CEO, Dr. Neil J. Campbell.
"There are still many unmet medical needs in the cancer marketplace that require solid answers and focus on the important relationship between healthcare providers and patients. This announcement is part of our commercial focus for the Company as we shift to opportunities in oncology, which we believe presents the best market opportunities for shareholder value," said Dr. Campbell. "This new potential opportunity with an oncology business is a first step in the new direction."
After stockholder approval of the Proposed Transaction, shareholders of the target company will own a majority of BWB. The Company ...