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NAYA Bio acquires gene therapy company Florida Biotechnologies for $20M

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Staff at TrialSite | Quality Journalism
Feb. 4, 2024, 7:00 p.m.

Aventura and Sarasota, FL. - NAYA Biosciences has entered into a binding letter of intent to acquire Florida Biotechnologies, a gene therapy company focusing on the treatment of mitochondrial diseases, for $20 million in shares. The acquisition is part of the portfolio company’s strategy to find disruptive clinical-stage therapies it can invest in.

In October of last year, NAYA Bioscience and fertility specialist company INVO Bioscience entered into a definitive merger agreement for INVO to acquire NAYA in an all-stock transaction. Under the merger, NAYA is dedicated to increasing patient access to life-transforming treatments in oncology, fertility, and regenerative medicine. NAYA’s focus is to “seek to scale up profitable revenues in the fertility segment, enter into revenue-generating pharma partnerships for its therapeutic programs, and strategically develop and acquire synergistic technologies and companies.”

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