OXNARD, Calif., July 28. 2022 (GLOBE NEWSWIRE) — CURE Pharmaceutical Holding Corp. (OTC: CURR) (“CURE”), a proprietary platform technology company, today announced that it has sold a portion of its platform technology intellectual property and related assets for total consideration of $20 million. CURE used a portion of the cash proceeds to repay certain debts and the balance will be used to grow its intellectual property portfolio and its wellness and beauty brands. In addition, CURE retained its remaining proprietary platform technology which it intends to monetize through commercialization of the technology or through licensing or sale of the technology.
CURE will host a conference call on August 3, 2022 to provide a full corporate update to shareholders. Details of the conference call will be available on August 1, 2022 in a follow-up press release.
For more information, see the current report on Form 8-K relating to the transactions described above, which will be filed with the Securities and Exchange Commission and available on CURE’s website at: www.curepharmaceutical.com/investors/sec-filings/.
About CURE Pharmaceutical Holding Corp.
CURE Pharmaceutical® is the pioneer developer of CUREform™, a patented drug delivery platform that offers a number of unique immediate and controlled release drug delivery vehicles designed to improve efficacy, safety and patient experience for a wide range of active ingredients . As a vertically integrated company, CURE’s 25,000 square feet, registered with the FDA, NSF® The cGMP certified manufacturing facility allows it to partner with pharmaceutical and wellness companies around the world for private and white label production. CURE has partnerships in the United States, China, Mexico, Canada, Israel and other markets in Europe.
About Sera Labs, Inc.
The Sera Labs, Inc. (“Sera Labs”), a wholly owned subsidiary of CURE, is a trusted leader in the health, wellness and beauty industries of innovative products featuring advanced technology. point. Sera Labs creates high-quality products that use proprietary science-backed formulations. Over 25 products are sold under the Seratopical™, Seratopical Revolution™ SeraLabs™ and Nutri-Strips™ brands. Sera Labs sells its products at affordable prices, making them easily accessible globally. Strategically positioned in the growing market categories of beauty, health and wellness, Sera Labs products are sold in major national drug, grocery, convenience and mass retail chains. CURE and Sera Labs also sell private label products to major retailers and multi-level distributors, as well as to direct consumer (DTC), via online ordering on the website, including opt-in subscriptions. For more information, visit: Seratopicalrevolution.com, Seratopical.com, Seralabshealth.com and follow Sera Labs on Instagram at @seratopical, as well as Twitter and Facebook.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, which statements are subject to substantial risks and uncertainties. Forward-looking statements include all statements other than statements of historical facts contained in this press release, including statements regarding the future growth and success of our organization. We have attempted to identify forward-looking statements by using words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “should”, “will” or “would” and similar expressions or the negative of these expressions.
Forward-looking statements represent our management’s current expectations and forecasts regarding trends affecting our business and our industry and are based on information available at the time such statements are made. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated, assumed or implied by the forward-looking statements. Certain of the risks and uncertainties that could cause our actual results to differ materially from those expressed or implied by these forward-looking statements are described in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended 31 December 2021, as well as in our Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission.
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