- Qualigen Therapeutics Inc (NASDAQ:QLGN) has agreed to acquire a majority stake in NanoSynex Ltd, an Israeli-based developer of next-generation diagnostics technology.
- NanoSynex's Antimicrobial Susceptibility Testing (AST) platform provides rapid, accurate, and personalized tests for bacterial infections to quickly match the correct antibiotics to treat a patient's particular infection.
- Antibiotic misuse and overuse have given rise to antibiotic-resistant bacteria, commonly known as superbugs. The World Health Organization has called it one of the top ten global public health threats facing humanity.
- NanoSynex's AST platform aims to enable better targeting of antibiotics for faster and more efficacious treatment, reducing hospital mortality and morbidity rates.
- The purchase consideration primarily includes a stock-for-stock acquisition and an initial $600,000 cash investment in NanoSynex.
- Price Action: QLGN shares are up 2.83% at $0.57 during the market session on the last check Tuesday.
