KATY, TX, March 28, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Neutra Corporation (OTC PINK:NTRR), an emerging health and wellness research and development company, last month announced the execution of a letter of intent to acquire Mercury Clinical Research, a privately-owned site management organization (SMO) comprised of a network of physicians conducting clinical trials for top-tier pharmaceutical companies. In preparation for the potential acquisition, the Company has taken the next steps to achieve a successful negotiation.
Neutra Corporation has retired the last of its debt from 2015. Shortly after the company announced that Power Up had completed their Series G Convertible Preferred Shares, the company relied on Power Up to provide funding for the next filing. As of the beginning of the 1st quarter 2023, Power Up has concluded their additional Series G Convertible Shares. The Company has not received any additional funding from Power Up since that time. Achieving the following has given Neutra the best position to move forward with the acquisition:
o Retired the last of its Debt; and
o Completion of additional Power Up Series G Convertible
"Putting Neutra in the best possible position to achieving this acquisition is one of my top priorities,” said Sydney Jim, Neutra Chief Executive Officer. “Not only will this acquisition increase the value to our shareholders, Neutra believes that having Mercury integrate with our team will allow us to achieve our overall goal in health, wellness, and life sciences."
Mercury, under its current management, has grown over twenty percent year over year in the last six years, with a 2022 gross revenue of between $3 and $7 million with industry-commensurate gross margins and positive EBITDA. Mercury will become a wholly owned subsidiary of the Company and is expected to place executives in senior management positions. Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated.
"This potential acquisition is a strategic move that will position us to put our best foot forward in a growing research sector,” said Oscar Zedrick Buhay, Mercury Clinical Research Chief Executive Officer. “I hope that we can come to an agreement soon and really start pushing towards our mutual goals in advancing medicine.”
SMOs are rapidly becoming a bigger part of the pharmaceutical business as pharma companies have found them to be an increasingly valuable resource. SMOs were a $5.6 billion market in 2021. This could grow by 6.1% per year through 2030 thanks to increased research and development investments by pharmaceutical firms. SMOs offer clinical trial services to pharmaceutical companies and medical device companies. Collaborating with SMOs helps pharmaceutical companies get FDA approvals for medication, treatments, and/or devices.
Medications like SARS-CoV-2 vaccines and treatments, flu vaccines, testing devices, Alzheimer's treatments, etc., have been through trials aided by an SMO like the one Neutra intends to acquire, in order to become FDA approved before release to the public. In addition, SMOs also work with hospitals and private practices to provide alternative treatments available to help advance medicine.
About Neutra Corp.
Neutra Corp. (OTC: NTRR) is an early-stage research and development health and wellness company bringing modern healthy living solutions to a multi-billion-dollar market. Cutting-edge technologies within the nutraceuticals, food and drug, and life sciences are creating a new kind of world culture – one where consumers are demanding access to products that promote health and stave off potential health dangers.
Neutra is concentrating on developing into a vertically integrated company able to cultivate, manufacture and distribute hemp-based cannabidiol (CBD) products and hemp-based alternative cannabinoids. Hemp-based CBD consumer products generated sales of up to $390 million in 2018 with projections pointing to a $3 billion market by 2022, according to the Hemp Business Journal.
Neutra’s new broadened scope, which includes the commercialization of newer, more effective products, aims to capitalize on this worldwide boom. Our company is seeking new and exciting opportunities that can accelerate Neutra’s mission to promote a health and wellness through products and other ventures to a wider demographic. Our work reflects a renewed dedication to supporting a better body, environment, and life for people around the globe.
About Mercury
Mercury Clinical Research, Inc. (MCR) is an experienced site management organization comprised of a network of physicians conducting clinical trials in and around the greater Houston Area. MCR manages all aspects of the research program from marketing, regulatory, and safety reporting to coordination, patient scheduling, and query resolution. MCR has specific Budgeting, Regulatory, Data Management, Business Development, and Recruitment departments to ensure equal focus is given to every program need. For more information, visit the Company’s website at https://www.mercurycr.us.com.
NOTICE REGARDING FORWARD-LOOKING STATEMENTS
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words 'believes,' 'expects,' 'anticipate' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
Sydney Jim
281-728-7900
sjim@neutrainc.com
