Key points
- BOD Science Ltd has executed an Asset Sale Deed to sell its intellectual property rights
- The sale includes soft gel/S3 clinical research, Aqua Phase data, and CLIC Protein IP
- The sale is for a lump sum payment of AU$125,000, forgiveness of £2M GBP debt, and a 5% equity interest in Optimus Salvus
Full summary
BOD Science Ltd (Subject to Deed of Company Arrangement) has executed and completed an Asset Sale Deed with the Aqua Phase inventors and Optimus Salvus Limited (an entity incorporated in Gibraltar) to sell the company's rights to three intellectual properties (IPs), including soft gel/S3 clinical research and data, Aqua Phase with its associated data and IP, and CLIC Protein IP. The sale is for a lump sum payment of AU$125,000 exclusive of GST, the forgiveness of debt claimed by the Aqua Phase inventors in the sum of £2M GBP, and a 5% equity interest in Optimus Salvus. The proceeds from the sale of the IP assets will form part of a deed fund and be transferred to the Creditors' Trust following effectuation of the Deed of Company Arrangement (DOCA) that was executed with Biortica Agrimed Limited on 24 April 2024.