Biomedically ambitious business venture, The Institute of Biomedical Research Corp. (OTCMKTS:MRES), has activities extending from highly diversified scientific research and services combining the latest science and naturally occurring compounds and extracts. The firm is aiming at expanding the major long-term biomedical as well as environmental research projects. It is also looking at developing new diagnostic technologies as well as innovative experimental medical treatments.
Both research of biomedical products and new therapies are vital activities of the Institute. The Institute is also important for development of Montenegro within the European environment. It has new offices in Biotech Research Center of the Pacific Northwest, South Lake Union, and Seattle Washington.
Trading Data
On Friday, MRES stock moved up 25% to $0.0140 with 5.38 million shares, compared to its average volume 1.31 million shares. The stock moved within a range of $0.0115 – 0.0166 after opening trade at $0.0115.
Institute of Biomedical Research Corp Announces Purchase of Biomedical and Nutraceutical Assets
Institute of Biomedical Research Corp on July 22, 2022, announced buying of biomedical and nutraceutical assets from Wuhan General Group in an all-cash transaction.
Kim Halvorson, Director of the Board of Institute of Biomedical Research Corp said that the purchase is a perfect one to the business model. Halvorson added that it supports both the strategy in the sector and direction for creating a path for success.
The Institute will absorb all the current liabilities pertaining to the assets including four companies. One of the companies includes M2Bio Sciences Food and Beverage Proprietary Limited, having a range of nutritional food and beverage products stocked by over one hundred stores in South Africa. The company also does research into sustainable products harnessing hemp and mycelium. It is engaged in developing different cosmetics and complementary medicines using plant-based active ingredients. The second company is Neurai Life Sciences Proprietary Limited is focusing on research into application of plant based as well as other non-invasive therapies. These will be used for treating addiction, depression, and other major afflictions of 21st century.
Tsime Pharmaceutical and Medical Supplies Limited has a license for cultivating, processing, and exporting cannabis both for scientific and medicinal use. Lastly, MJMedtech Inc is registered in Canada but is presently dormant.
Kim Halvorson said that it was vital to find a dynamic group of firms complementing the mission of the firm. He added that the management team has acquired companies having robust history of credentials and achievement for taking the company to success.
Ms. Kim Halvorson has stepped down as the CEO and appointed Jeff Robinson as the new Chief Executive Officer as well as Director of the company. All the management and employees of Wuhan operating firms would be retained. Institute of Biomedical Research will adhere to OTC Markets and SEC guidelines for Best Practices for Disclosure and Transparency.
Jeff Robinson said that the company is delighted on moving forward with the research and technology. Robinson added that both firms have the same objectives of bringing products and innovation to healthcare industry.
Technical Data
MRES stock is trading above the 20-Day and 50-Day Moving averages of $0.0110 and $0.0090 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0116. The company has a total market capitalization of $12.82 million. The stock is up 65% over the past month.
