IN A PURPOSE OF EXPANDING JUPITER WELLNESS’ RESEARCH CAPABILITIES AND ENTERING THE LUCRATIVE CRO BUSINESS, JUPITER WELLNESS HAS ACQUIRED THE ASSETS OF ASCENT CLINICAL RESEARCH
JUPITER, FL/ACCESSWIRE/April 27, 2022/Jupiter Wellness, Inc. (NASDAQ:JUPW) today announced that it has entered into an asset purchase agreement with Ascent Clinical Research, Inc. whereby it has acquired certain clinical assets, including clinical trial research contracts worth $3 million in annual revenue for a purchase price of 5% royalty on future net revenue generated by the assets.
“This strategic asset purchase agreement adds immediate revenue to Jupiter in the second quarter of 2022 and positively contributes to EBITDA with no cash or stock acquisition cost for our company. The acquired contracts and related assets strengthen the Jupiter’s position as a research and development engine while allowing us to enter the lucrative sector of clinical research organizations,” said Jupiter CEO Brian John.
About Jupiter Wellness
Jupiter Wellness, Inc. (Nasdaq: JUPW) is a leading developer of pharmaceutical cannabinoids focused on skin care therapeutics and treatments. The Company’s product portfolio includes cannabidiol (CBD) to treat indications such as psoriasis, eczema, burns, herpetic cold sores and skin cancer. Jupiter generates revenue from a growing line of proprietary over-the-counter skincare products, including its CaniSun™ sunscreen and other wellness brands sold at www.cbdcaring.com. For more information, please visit www.jupiterwellness.com.
This communication contains forward-looking statements regarding Jupiter Wellness, including the anticipated timing of studies and the results and benefits thereof. You can generally identify forward-looking statements by using forward-looking words such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “explore”, “evaluate”, “have the intent to”, “may”, “could”, “plan”, “potential”, “predict”, “project”, “seek”, “should” or “will”, or the negative thereof or of other variations thereof or comparable terminology. These forward-looking statements are based on each of the Company’s current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties, many of which are beyond Jupiter Wellness’ control. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements due to these and other risks and uncertainties affecting Jupiter Wellness and, including those described from time to time under “Factors and elsewhere in Jupiter Wellness Securities and Exchange Commission (SEC) filings and reports, including Jupiter Wellness’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and filings and reports future of Jupiter Wellness. In addition, other risks and uncertainties not currently known to the combined company may also affect each of the companies’ forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. Investors are cautioned that forward-looking statements are not guarantees of future performance. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and reflect the views expressed therein with respect to future events as of such dates, even if made subsequently. . available from Jupiter Wellness on its website or otherwise. Jupiter Wellness undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date on which the statements forecasts have been made.
Jupiter Wellness Media Contact:
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THE SOURCE: Jupiter Wellness, Inc.
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